I'd never heard of this before, but I was introduced to it by a German colleague last night. According to her, it's traditional viewing on New Years' Eve in much of Europe.
The premise, as it was related to me, is that the elderly woman, Miss Sophie, had a tradition of inviting her 4 closest friends over for a celebration every New Year's Eve. One by one, her friends died off, but she insisted on maintaining the tradition, even after all 4 of her friends had died. Her "solution" was to make her long-suffering servant, James, play the part of each of her deceased friends.