Netflix transformed from a DVD-by-mail service into the world's most prolific production studio. Their model fundamentally changed the economics of production. By greenlighting massive amounts of content to feed the "churn" of subscribers, Netflix popularized the "binge-watch" culture. Their studio model is decentralized, filming in locations worldwide to cater to local markets (a strategy known as glocalization) while simultaneously producing global hits like Stranger Things and Squid Game .

The global entertainment landscape is a mix of legacy titans and disruptive tech-driven streamers. In 2026, maintains its position as the world's most valuable media company by market cap, followed closely by The Walt Disney Company and Warner Bros. Discovery . These studios and their various production arms dictate cultural trends and command billions in box office and streaming revenue. The "Big Five" Legacy Studios