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Became the first streaming service to win the Academy Award for Best Picture ( CODA ).

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Champions unique artistic voices, leading to critical sweepers like Everything Everywhere All at Once . Became the first streaming service to win the

Anchors their superhero output, undergoing a massive creative relaunch to rival the MCU. The new studio model is about Whether it

For a while, streamers like Netflix and Apple TV+ were the "greenlight machines," approving anything to fill the library. That era is over. The new studio model is about

Whether it is a 100-year-old legacy brand or a scrappy streaming newcomer, the way entertainment studios produce content has fundamentally changed. Here is a look at who is winning the production wars right now and how they are doing it.