What was notable about this is that not being part of the studio system, these streaming services were offering great creative freedom and deals to entice artists to develop projects for them. As I wrote at the time, the company-run AMPTP, by being so obstructionist and unyielding, was risking opening a Pandora’s Box by pushing writers (and eventually other filmmakers and TV craftsman) to a brand new competitor, having long had the playing field and a closed-market to themselves. It was a sort of "We're the only game in town, and so if you don't like the nothing we're offering you, take it or leave it" attitude.
Today, we know at this point that online streaming of new series and occasional movies is a blossoming area. So, how did that "take it or leave it" game work out? The thing is, if you weren’t paying close attention on Oscar night, Amazon and Netflix won four Academy Awards between them. Amazon won two Oscars for Manchester by the Sea (for Best Original Screenplay and Best Actor), and Best Foreign Language Film, The Salesman. Netflix picked up one Oscar for The White Helmets as Best Documentary Short.
Most of the works being created have been series, since online streaming is best suited for that. Though there have been some feature-length films -- some small, though several with big names stars. Most have been project that wouldn't get made at a studio, even if they were good. (Or award-winning worthy.) Though usually even the best have generally had limited theatrical runs -- in part because a lot of movie theaters see online streaming as competition and therefore wouldn't book the movies -- before going online.
That might change. Netflix has its first Really Big film upcoming, and may push for a full-out theatrical run. It's called Bright and stars Will Smith. Here's the trailer.