Single story vs. Over-arching story

Writing a series? What to do? Go for a single story where each book can be read as a stand-alone or an over-arching storyline where it’s best to read one and then the other? Some books like Harry Potter go for the overarching storyline yet some, especially in Anime like Kino’s Journey, go for the single-story narrative. What’s best? What’s more popular?

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