A Barclays analyst cited too little new content as a reason for doubting Disney+'s ability to meet its long-term subscriber target. Then Disney announced that the debuts of several Marvel films are being pushed back, meaning that three instead of four will bow in 2022.

Netflix currently has high saturation among the older demographic, particularly in the U.S. But it may have a tough time keeping them in the face of cheaper competitors that offer sports and news.

Entertainment companies, still in pandemic recovery mode, could see content dry up for their streaming services and their theatrical revenue stream if the sides fail to reach a deal.