Use a watchlist for things you intend to watch and favourites for items you want to reach repeatedly. Keeping those purposes separate makes both lists more useful, provided the player or service actually supports the relevant functions.
Keep intention separate from habit
A film you hope to watch once belongs to a different kind of list from a news channel you open daily. If everything is marked as a favourite, the shortcut can become as crowded as the full catalogue. Use clear categories where the software allows them.
Review the backlog
Remove titles you no longer want to watch and move finished items out of the immediate shortlist. A monthly review can keep the list manageable. Do not treat a saved title as a reservation or a promise that it remains available indefinitely.
Plan for device changes
Some lists are stored locally, while others may be tied to an account. Establish what your particular player does before resetting a device. If there is no documented export or sync function, keep a simple private note of the few items you most want to remember.
