Netflix remains the market leader with 270 million global subscribers, but growth has slowed and the ad-supported tier now accounts for 40% of new sign-ups. Disney+ has 160 million subscribers but is not yet profitable, while Amazon Prime Video benefits from being bundled with Prime membership. UK households now pay an average of £45 per month across multiple services, and subscription fatigue is driving cancellations. Password-sharing crackdowns and price rises have been unpopular but effective at increasing revenue. The streaming model is maturing: fewer new services are launching, consolidation is likely, and profitability (not just growth) is now the priority. Live sports, ad-supported tiers, and bundling are the future, and the era of spending billions to attract subscribers is over. For viewers, the streaming wars have delivered more content than ever, but at a higher cost and with more complexity. The golden age of cheap, ad-free streaming is over.