Things have changed dramatically since the heyday when everyone had a cable subscription. I used to work for SlingTV (and then Dish), and I had a front row seat as the whole industry imploded. Every year the television networks and movie studios would sit down and renegotiate their contracts. Despite the fact that viewership was always down at least 10% year over year they always wanted price increases. If the cable providers pushed back (as Dish often did) they would lose access to channels, invariably during football season when it mattered most.
You see, as technology started allowing people to purchase their entertainment piecemeal it soon became clear what parts they were willing to pay for, and which parts they weren't willing to pay for. Hollywood thought that people paid for cable subscriptions to watch their scripted television. It turns out that, for most people anyway, the part of television that they were willing to pay for was live sports.
That's why Disney won't sell you ESPN unless you bundle it with everything else that they sell, and that's also why Disney is suing SlingTV for reselling access on a daily basis. SlingTV's "sports pass" allows you to pay for just the games that you want at a ridiculous price. Disney should be stoked, but instead it has sued because it wants to force sports fans to continue to pay for their other channels.
Almost no one is watching traditional scripted television these days. The few hits that the networks do have tends to be reality TV stuff like "Dancing with the Stars," where the audience can watch people compete in real time. Youtube (not YoutubeTV) has at least half again as many viewers as their next highest competitor (Netflix), at any time during the day, on traditional 10 foot devices (your living room TV). That's not counting people watching Youtube on their phones or their computers. Youtube is killing scripted content on living room televisions, during prime time. During the day its an order of magnitude worse.
Take a look at nielsen.com and take a look for yourself. It's absolutely grim. Look at the shows that are doing relatively well, they are all either sports or sports commentary. That's literally the only reason that anyone watches anything besides YouTube and Netflix.
Apple spent over $20 billion building up a content catalog. At their height they were spending nearly $5 billion a year making shows. They made some great shows and got rave reviews. Amazon spends $1 billion a year for the rights to Thursday night football. That is arguably the worst football game of the week. However, Prime generally gets as many viewers for a single game as Apple has total subscribers, including all of the free subscriptions that Apple gives away. It's not just Apple that is shifting away from scripted television either. Take a look at any of the streaming sites (including Netflix) and you will see that all of their recent moves have been to try and compete for the sports market. That's definitely what YouTube is doing by bundling Peacock.
Hollywood is currently circling the drain. Everyone is up for sale right now. No one is watching scripted television. They certainly aren't paying for it.