>> having a big catalog from Disney at X/month is more worth more for Disney than sublicensing to Netflix at Y/month.

But sometimes that leads to really stupid things. At one time all Star Trek TV shows were on Paramount while all the movies were only on Max. I believe they're all owned by Paramount, but apparently the shoes are the big draw (the new series "Picard" was exclusively on Paramount) and they could get more profit by putting the movies elsewhere and collecting a bit more than if it were all on their service. GAK!