For all intents and purposes, the Streaming Wars kicked off in 2007, when Netflix launched streaming video from its platform. As technology advanced and became increasingly affordable for the average household, the demise of Blockbuster Video in 2010 was proof-positive that the world had embraced streaming as the next evolution in home entertainment. New streaming sites, like Hulu in 2008, began popping up, some far more successful than others (Yahoo! View, we hardly knew ye), but Netflix would change the game again by launching its first foray into original programming, 2013's House of Cards. Serious contenders to the streaming throne, like Disney+, began to rise up around 2018, but Netflix was still the undisputed king of streaming.

Then came 2020, and the unprecedented worldwide impact of Covid-19. Quarantining, working from home, and business shutdowns drove subscriptions to streaming sites through the roof, hitting $1.1 billion worldwide in 2020 alone. Movies slated for theatrical release were moved to streamers. More original content was being created for the sites. Corporate mergers altered the streaming landscape significantly, merging content into larger media libraries. Upstart streaming sites tried to gain traction in the booming streaming market. The options seemed endless.

RELATED: Netflix Considers Adding Live Streams to Their Service Amid Streaming Wars

Claire Underwood in The Oval Office
Image via Netflix

Which brings us to today. The world is, slowly but surely, getting back to normal, meaning the stable of subscribers chained to their home is decreasing. The time availability for streaming content decreases along with it, which in turn leads to subscribers now taking a hard look at which streaming subscriptions are worth keeping, and which simply are not.

A long road to our destination, but we're here now: Which participants in the Streaming Wars will triumph... and which stand to lose everything?

Stranger Things 4 Eleven and company
Image via Netflix

Netflix remains top dog, with 221.8 million subscribers worldwide at the end of 2021. However, recent subscriber losses point to a real vulnerability they haven't experienced before now. This can be attributed to a number of factors. The most obvious is the amount of Netflix original programming versus licensed content. 40% of the content on Netflix is original programming, and is speculated to be at around 75% come 2025. For the programming that catches on, like your Stranger Things or Bridgerton, it's fine, but there are a lot of misses. There also is still a desire for studio programming (which they are well aware of, having shelled out $100 million to keep Friends available on the site through 2019). Some of this is beyond their control, with studios pulling content for their own streaming sites after contracts end, like how Disney pulled the Marvel series' (ie Daredevil) off, but it still does impact their viewership. Another issue that is contentious for a number of subscribers is how quickly series are canceled, often after one to two seasons. This is a conscious decision on their part — costs rise after a second season, and if the viewership isn't there they cut their losses, rather than allow a show to grow. However, Netflix has a lot of goodwill, and a tip of the tongue presence in society that will keep it in the top tier for a while, but it is unlikely to remain the alpha for much longer.

There are three serious contenders to the throne, all of which have made impactful moves for content, all of which have outside financial resources to offset subscription income (which is Netflix's major source of capital). Disney+ is the most likely to overtake Netflix's hold of the streaming market. Initially, the available content on the site was impressive, given Disney's long, illustrious history in film and television. That available content rose significantly in a short period of time, thanks to acquisitions like 20th Century Fox, Hulu, Marvel Studios and Lucasfilm, among others. Original streaming series from the Marvel and Star Wars branches have become must-sees, giving Disney+ that front-of-mind presence once reserved solely for Netflix, and adding to their subscription numbers. Amazon Prime Video has also made great strides in content, with the 2021 purchase of MGM Studios padding their library. Coupled with some highly successful original programming - like the award-winning The Marvelous Mrs. Maisel, Good Omens, and Fleabag — they are well positioned content wise. They also benefit greatly from how they arrive at their subscriptions. Unlike the other streamers, Amazon Prime Video is an added feature of Amazon's Prime package, giving subscribers site access alongside same day/next day delivery of their purchases.

Phoebe Waller-Bridge talking to the audience in Fleabag

While the third contender's impact in the Streaming Wars has yet to be fully realized, with merger details and fallout still being worked out, it would be daft to assume that the AT&T/WarnerMedia/Discover would be anything less than a major player. With content from the HBO, Warner Bros., and Discovery platforms, and intellectual properties like DC Comics and Looney Tunes, AT&T has access to a long history of television and film, not unlike Disney, with an estimated 200,000 hours of content available. The HBO side, specifically, has been very impactful with its original programming, with Game of Thrones, The Sopranos and Sex and the City examples of shows that have deep name recognition amongst the general public.

There are a number of niche streamers, like Shudder, for example, that will never win the Streaming Wars, but were never intended to. They satisfy the wants of a certain demographic, and so long as they do they aren't losing the Streaming Wars either.

Emilia Clarke as Daenerys Targaryen in Game of Thrones

So if we assume that Netflix, Disney+, Amazon Prime Video and AT&T are at the top, in some varying order, then who are the losers?

Paramount+ does have the film library of Paramount Pictures, CBS Studios content, and sports programming through its association with CBS Sports, which includes select NFL games and exclusive rights to the UEFA Champions League. It's the strongest of the leftovers, but lacks any must see content (the shows based on the Star Trek universe an arguable exception), and has upset casual viewers by moving some successful shows off of the CBS Network to Paramount+ (Evil Season 2 was relegated to the streaming service, but was unavailable in Canada until months later). Although one should never underestimate the great and mighty Apple, Apple TV+ has not really taken off to date. Yes, Ted Lasso has been successful and the original film CODA was a historic Best Picture win at the 2022 Academy Awards, but otherwise there are very few buzz-worthy selections on the service. This is problematic for them as they don't have a deep library like the others. Finally, NBC Peacock. It has potential to grow, especially with its tiered approach to subscriptions (free access contains ads, premium does not), and a library of NBC and Universal Studios content at its disposal. But the service has not started off well. It has even less must-see content than Paramount+, has had little to no chatter, and its Olympics coverage through two sets of games has been largely derided. It also has the misfortune of being the new kid on the block, entering an already crowded market and offering nothing that separates it from the rest of the pack.

There you have it. Ultimately, time will tell who truly seizes the day and who falls to the wayside. Ironically, with battle lines changing and alliances made or broken regularly, it's conceivable that a channel that streams the Streaming Wars could easily come out on top. That may be something worth pursuing.