As we have seen lately, starting up a streaming service is incredibly expensive and you will be doing it at a loss for some time. Disney+ I read made a loss of $1.5 billion last year but they can absorb that loss, nonetheless they are looking at their expenditure. Paramount+ too.

SONY didn't look like it had an appetite to start and compete in this market and do they have the content to justify one? Instead they were savvy to strike seals with Disney, Netflix, etc to sell/licence their movies and TV shows to them. Makes a tidy profit for them in the long run so they can concentrate on making tentpoles. Yes Venom 3 is coming.