I believe that’s true… but also believe that every company that has been dependent on linear/cable TV revenue (of which Disney is actually the #1 example as ESPN revenue bolstered the entire company for much of the 21st century) has HAD to try to create a streaming service. To not do so would have been equivalent of a brick and mortar retail store refusing to invest in an Internet retail platform for the past 20 years. Linear/cable TV revenue is going to eventually go away and the only option for these companies to fill that void is to have a viable streaming platform in place when that finally happens (just like the pandemic exposed which retail stores had strong online retail platforms and ones that didn’t).To me, this is what anyone with any basic business sense saw coming. People weren’t going to keep subscribing to every new streaming service.
Not every streaming service will survive, but the point is that any entertainment company that is not putting a bet on a streaming service is *guaranteed* to not survive in the long run.
Now, whether these entertainment companies are running their streaming services *well* is certainly an open question.