Aren’t they the ones that forced the change though?
No, cord cutting started the change lead by those that didn't want forced bundles from cable. And so as a result studios were starting to create their own services to combat the cord cutting to capture that market and combat the rise of Netflix, which got accelerated by the pandemic due to the potential loss of theatrical.
So no streamers didn't force it, consumers did along with a global event that accelerated it. But no matter what we'd still be here as this is the way the market was going anyways due to consumer trends.
And yet Netflix was the only one to actually pull off a profit until relatively recently, correct? We’re also going to reach a point where there’s so many streamers it might as well just be cable in a different format from how many subscriptions you’ll need and the total cost for them.
Netflix had a decade head start in streaming, and they started out as a mail order DVD rental company. They saw the decline of DVD rental/sales and pivoted to offering the movies over the internet. And they weren't profitable right away either, it took time to get there. Netflix's current revenue today is double what total US DVD sales ever were at its height in the mid-2000s, even adjusted for inflation.
So its clear that this business model works and makes way more than previous post-theatrical markets. Not to even bring up that it actually also supplants the theatrical market itself in many ways already, but we'll save that discussion for another day and in another thread.
And no Netflix was not the only one profitable until recently, Hulu prior to Disney taking full control was also profitable for its owners (which included Disney) hence one of the reasons Disney wanted to take full control. Hulu started to achieve profitability back in 2010, shortly after Netflix. Which brings us to D+, the idea was always that D+ would take 5 years to become profitable (similar on average to Netflix and Hulu), this was noted when it was launched in 2019, and it did within that original 2024 goal. And this was outside of anything that Hulu brought in for Disney. So the combined DTC makes profit for Disney, not only as a unit but also each individual service, this was achieved earlier this year with ESPN+ being the last piece needing to reach profitability. Amazon Prime Video is the only one of the 3 top streamers that hasn't reached profitability yet, which they claim it will achieve by the end of this year.
So this idea that streaming cannot bring in as much post-theatrically as video or DVD sales is false. This was proven the day Blockbuster went out of business back in 2014. And in a world where theatrical is no longer exists or is scaled way back by consumers it'll still be able to be pick up the slack for any missing theatrical revenue. This is whole idea, this is one of the reasons why they exist, again another topic for another day and another thread.
As for how many streamers, we've already seen a consolidation start which includes Hulu merging with D+. So you have the 3 main streamers with Netflix, Disney, and Amazon, so the great streaming wars has it winners in those big 3, and then everyone else. And those others are either starting to be bundled with those big 3 or are starting be shuttered. For example Amazon is shuttering Freevee, Sony decided to get out streaming when their Playstation service didn't launch well, and same with Microsoft and their service, not to mention a bunch of other services going under in 2024. For bundling you can get now HBO Max bundled with Netflix or D+ as an example. Not to mention that you can subscribe to many services through Amazon Prime Video. The only one seemingly wanting to go it alone is Apple, but they appear to be ok with that as its an add-on service for their whole iDevice ecosystem. And none of this even brings up the fact that Youtube has carved out a huge chunk of the market for itself.
So this all started with consumers wanting more choice and convenience, and so they got it. And yes in many ways its starting to be cable in a different model, but that was also inevitable. I called that back in 2019 when those of us on this site started talking about the future of streaming with D+'s launch.