This is not the first time legacy Hollywood companies have been challenged by new technology; as mentioned, Hollywood's history is one of initially resisting but eventually profiting from every technological advancement, from synchronized sound to television syndication to home video formats and into the digital age. Disney+, Max, and Peacock have now joined Hulu and CBS All Access (renamed Paramount+) as legacy Hollywood moves belatedly but aggressively into direct-to-customer (D2C) streaming distribution. History would suggest that streaming technology will be merely one more entertainment format that the Hollywood conglomerates eventually dominate, except this time, the challengers are well-funded by a financial sector that is chasing dwindling investment opportunities in a hollowed-out economy.

XREF: Ties to broader media-industry histories of format transitions, from sound to home video to streaming.

Andrew deWaard, Derivative Media, loc. 313