Streaming

Content Studios

Studios licensing content to whoever pays

SONY — Sony

The last major studio without its own general streamer — Sony Pictures sells films and series to the highest bidder, with Netflix its marquee customer. (Also PlayStation, music, and sensors.)

market cap $124B · revenue $88B

Check the data: Yahoo Finance quote & financials · Find SEC filings

WBD — Warner Bros. Discovery

HBO, the Warner film library, and DC — a legendary catalog attached to a heavy debt load, now licensing its crown jewels (even to Netflix) while restructuring around streaming and studios.

Why it matters: The map’s "in play" asset: perennial subject of breakup and takeover math, and proof that great content alone doesn’t guarantee a great business.

market cap $67B · revenue $38B

Check the data: Yahoo Finance quote & financials · Find SEC filings

Streaming Platforms

Subscription warfare — content spend vs churn

NFLX — Netflix

The streaming wars’ winner: ~300M+ households, a fast-scaling ad tier, live events, and a content budget (~$18B/yr) that outguns every rival — all served from AWS datacenters.

Why it matters: The company that killed the cable bundle now has to prove it can grow like a tech platform — while its biggest competitor for eyeballs is free.

Outlook: The growth story has shifted from subscriber adds to monetization: ad-tier scale, price increases, and live sport rights — the stock’s 2026 wobble is the market repricing that transition.

Check the data: Yahoo Finance quote & financials · Find SEC filings

DIS — Disney

Disney+, Hulu, and ESPN’s streaming pivot, bolted to the parks money machine — the only rival with franchises deep enough to fight Netflix on brand alone.

market cap $175B · revenue $94B

Check the data: Yahoo Finance quote & financials · Find SEC filings

Big Tech Rivals

Competing for the same hours with different business models

GOOGL — Alphabet (YouTube)

YouTube is the #1 streaming platform on US televisions by watch time — free, creator-powered, and the competitor Netflix executives say worries them most.

revenue $400B

Check the data: Yahoo Finance quote & financials · Find SEC filings

AMZN — Amazon

Prime Video (with NFL and ads) bundled into Prime — and, through AWS, the infrastructure Netflix itself runs on. Rival and landlord at once.

revenue $680B

Check the data: Yahoo Finance quote & financials · Find SEC filings

The End Market

Two revenue streams: household wallets and ad budgets

Consumers

Households paying monthly for entertainment — the subscription wallet every platform in this map fights over.

Advertisers

Brands buying attention on ad-supported tiers — the second revenue stream reshaping streaming economics.

Relationships on the map

• Sony supplies Netflix — Films & series licensing (~$2B/yr)
  Sony’s output deal makes its theatrical films Netflix exclusives in the US — the arms-dealer model at its purest.
• Warner Bros. Discovery supplies Netflix — HBO & WB licensing (~$1B/yr)
  Once unthinkable: HBO series now stream on Netflix, trading exclusivity for badly needed licensing cash.
• Warner Bros. Discovery supplies Disney — Library licensing
  Warner content also flows to Hulu and other rivals — every streamer is a customer.
• Amazon supplies Netflix — AWS infrastructure (~$1B/yr)
  Netflix runs virtually everything on AWS — paying its streaming rival roughly a billion dollars a year in rent.
• Netflix competes with Disney — Streaming subs
  The defining subscription war: Netflix’s scale and algorithm vs Disney’s franchises and bundle.
• Netflix competes with Alphabet (YouTube) — TV watch time
  YouTube beats Netflix in US living-room hours with zero content spend — the rival Netflix says it fears most.
• Netflix competes with Amazon — Prime Video & live sport
  Prime Video bundles NFL football into a membership people already pay for — while AWS bills Netflix for every stream.
• Disney competes with Warner Bros. Discovery — Legacy media survival
  The two legacy giants fight over the same shrinking cable dollars while both pivot to streaming.
• Netflix supplies Consumers — Subscriptions (~$42B/yr)
  Roughly 90% of Netflix revenue is still monthly subscriptions from 300M+ households.
• Netflix supplies Advertisers — Ad inventory (~$4B/yr)
  The ad tier is the fast-growing ~10% — the revenue split investors watch every quarter.
• Alphabet (YouTube) supplies Advertisers — YouTube ads (~$40B/yr)
  YouTube’s ad machine alone dwarfs every streamer’s ad tier — with zero content spend.
• Disney supplies Consumers — Streaming subs & bundles (~$25B/yr)
  Disney+ and Hulu subscriptions, increasingly bundled to fight churn.