I think it would be more accurate to say there was not enough cross-licensing. The generally preferable model seems to be service platforms that compete with each other, but with access to all the same production companies that also compete with each other. Vertical integration is an obvious win for the owners, but this fight has been going on since the earliest days of mass media with radio and motion picture studios.

Netflix was the early beneficiary of broad licensing because the draw bridges hadn't been pulled up yet.