Netflix started as a distributor but is now the world's largest global studio. They produce content in over 50 languages, from the Korean smash Squid Game (the most-watched Netflix production ever) to the German sci-fi epic Dark. Their production model is data-driven, allowing them to greenlight projects that traditional studios deem too risky. With hits like Stranger Things and Wednesday, Netflix has proven that a studio does not need a theatrical window to dominate the cultural conversation.

On the horror front, Blumhouse Productions is the undisputed king. Working on micro-budgets (typically under $10 million) for massive returns (the Paranormal Activity and The Purge franchises), Blumhouse has produced the Five Nights at Freddy's film and the modern Halloween trilogy. Their model of giving directors creative freedom on low financial risk has saved the horror genre from extinction.

The definition of "popular entertainment studios" has shifted dramatically with the rise of Streaming Services as production powerhouses.