Collaborative filtering cannot recommend new stuff. By the time all your friends have watched and liked the new hotness it's already too late to recommend it to you.
By the time a single person with highly similar tastes to me has high engagement to a new item, that can be suggested, by providing a boost to new items.
I'm not familiar with what the best approaches for the cold start problem of getting that first (few) interaction(s) are, but in the case of Netflix it's easily handled by a new on Netflix section.
