That’s the problem. Any original content that Netflix funds it only has one way to recoup it - subscription sells.

Any money that Disney makes from Disney+ is just additional profit. It’s already recouped most of its costs through theatrical releases, commercial network tv, video on demand, etc.

Netflix also has to borrow money externally. The other companies getting into streaming have free cash flow to prop up streaming.

Even Apple can operate its streaming service at a loss and its just a rounding error.