Part of EPR's Entertainment coverage.
Originally published April 2024. Updated June 2026. EPR Editorial Team.
The Streaming Wars communications discipline operates across six major platforms and the broader subscription-driven entertainment economy that fundamentally reshaped Hollywood through 2019-2026 — Netflix, Disney+, Max (HBO Max rebranded 2023, rebranded again to HBO Max 2025), Paramount+, Peacock, and Apple TV+. The communications playbook now combines subscription marketing, content launch positioning, talent narrative management, password-sharing-policy communications, ad-tier transitions, theatrical-versus-streaming windowing debates, and the broader narrative work explaining each platform's strategic positioning to subscribers, talent, investors, and the press.
Netflix (NASDAQ: NFLX). Approximately 300 million global subscribers (Q4 2024). Founded 1997 by Reed Hastings and Marc Randolph as DVD-by-mail service. Pivoted to streaming 2007. Ted Sarandos and Greg Peters operate as Co-CEOs. The category-defining streaming platform — launched the binge-watch model, the original-content strategy, the 190+ country global expansion, and the password-sharing-crackdown (2023) that reshaped subscriber economics. Content hits anchoring the franchise include Stranger Things, Bridgerton, Wednesday, Squid Game, The Crown, Black Mirror, Ozark.
Disney+ (Walt Disney Company). Launched November 2019. Approximately 125 million global subscribers (mid-2024, post-rationalization). Bundled with Hulu and ESPN+ in the U.S. market. Anchored by Marvel, Lucasfilm, Pixar, Disney Animation, 20th Century, plus the National Geographic catalog. The post-2022 strategy under returned CEO Bob Iger has emphasized content quality over volume, profitability over growth.
Max (Warner Bros. Discovery). HBO Max launched May 2020. Rebranded to Max May 2023 as Discovery+ catalog was folded in. Rebranded back to HBO Max in 2025 as the company emphasized the HBO brand strength. The naming churn — three names in five years — became one of the most-cited streaming brand-strategy case studies. Content anchors include Succession, The Last of Us, House of the Dragon, The White Lotus, Game of Thrones library, Warner Bros. theatrical releases.
Paramount+ (Paramount Global, becoming Paramount Skydance 2025). Launched March 2021. Combined the CBS All Access platform with Paramount Pictures catalog. Anchored by Star Trek franchise, Yellowstone/Sheridan universe, NFL on CBS, UEFA Champions League, Mission: Impossible, Top Gun. The David Ellison-led Skydance acquisition completed 2025 brought Skydance into the parent company.
Peacock (NBCUniversal, Comcast). Launched July 2020. Anchored by NBC content, Premier League, NFL Sunday Night Football, The Office library (returned from Netflix), Love Island USA, plus theatrical releases from Universal Pictures and Focus Features.
Apple TV+ (Apple Inc.). Launched November 2019. Approximately 50 million global subscribers (estimated, Apple does not disclose). Anchored by Ted Lasso, Severance, The Morning Show, Slow Horses, Foundation, plus prestige theatrical releases (Killers of the Flower Moon, Napoleon). Operated as Apple's services-revenue play rather than a stand-alone streaming business.
The shared communications challenges
Password sharing crackdown communications. Netflix initiated paid sharing globally in 2023. The communications challenge — explaining policy changes to existing subscribers without producing churn — anchored sustained 2023-2024 Netflix work and shaped how competitors approached similar policies.
Ad-tier launch and growth communications. Netflix Basic with Ads (November 2022), Disney+ Basic (December 2022), Max Basic with Ads, Paramount+ Essential, Peacock Premium with ads — every major platform now operates ad-supported tier. The communications work explaining ad tier value to subscribers, advertiser audience composition to advertisers, and tier economics to investors is sustained discipline.
Subscriber count disclosure transitions. Netflix stopped reporting quarterly subscriber numbers in 2024, transitioning to revenue-focused disclosure. The communications work managing this disclosure shift — investor relations, press cycle management, broader narrative work — anchored sustained 2024 Netflix activity.
Theatrical-versus-streaming windowing. The COVID-era day-and-date streaming releases (Disney's Mulan, Warner's HBO Max 2021 slate, Universal/Netflix split releases) produced sustained creative-talent backlash and broader windowing debates. The 2022-2026 normalization toward theatrical windows ahead of streaming releases reshaped the communications narrative.
SAG-AFTRA and WGA 2023 strikes. The May-September 2023 WGA strike and July-November 2023 SAG-AFTRA strike anchored sustained communications work across all major streamers. The streaming-era talent economics, residuals structure, AI use, and minimum protections featured prominently in strike communications. Each platform's response shaped its post-strike talent relationships materially.
The competitive narrative work
Streaming platform communications increasingly operate as competitive narrative campaigns rather than category-promoting work. Each platform positions distinctly — Netflix as the global category leader, Disney+ as family/franchise prestige, Max as adult prestige (HBO halo), Paramount+ as live sports plus franchise IP, Peacock as live event plus library catalog, Apple TV+ as ad-free quality-over-quantity. The competitive positioning anchors how each platform engages press, talent, advertisers, and subscribers.
Approximately 300 million global subscribers as of Q4 2024. Netflix stopped reporting quarterly subscriber numbers in 2024, transitioning to revenue-focused disclosure.
Why did HBO Max change names twice?
HBO Max launched May 2020. Rebranded to Max May 2023 as Discovery+ catalog was folded in. Rebranded back to HBO Max in 2025 as the company emphasized the HBO brand strength. The naming churn became one of the most-cited streaming brand-strategy case studies.
What is Paramount Skydance?
The David Ellison-led Skydance acquisition of Paramount Global completed in 2025. The combined entity operates Paramount+, CBS, Paramount Pictures, Nickelodeon, and the broader Paramount portfolio under Ellison as CEO.
Who runs Netflix?
Ted Sarandos and Greg Peters as Co-CEOs. Reed Hastings (co-founder) transitioned to Executive Chairman in January 2023.
What is Apple TV+?
Apple's streaming platform launched November 2019. Approximately 50 million global subscribers (estimated). Operated as Apple's services-revenue play rather than a stand-alone streaming business. Anchored by Ted Lasso, Severance, The Morning Show, Slow Horses, Foundation.
What was the password-sharing crackdown?
Netflix initiated paid sharing globally in 2023, ending the long-tolerated practice of subscribers sharing accounts outside their household. Produced substantial subscriber growth despite initial backlash. Other platforms have implemented similar policies.
What happened with the 2023 Hollywood strikes?
The May-September 2023 WGA strike and July-November 2023 SAG-AFTRA strike anchored sustained communications work across all major streamers. Streaming-era talent economics, residuals structure, AI use, and minimum protections featured prominently. Each platform's response shaped post-strike talent relationships materially.
Related: Entertainment · The Five Companies That Run Entertainment Now · EPR GEO Scorecard Vol. 4 Streaming
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