I would think the logical structure would be to set up a holding company for each major production/show that the writers and other major contributors would hold

I would think the logical structure would be to set up a holding company for each major production/show that the writers and other major contributors would hold equity in, and that holding company sells the rights to the work to the streaming company with regular renegotiations and some bonus clauses for short term success. So long as the content is still deemed a valuable asset, the holding company can keep charging a high price for the streamer to keep it, allowing the creators to collect dividends, or the streamer can buy out the equity holders if they want permanent ownership. With the bonus clauses (ie you get an extra lump of cash if this show winds up suddenly getting super popular) there is a strong incentive both to make something that will briefly drive a surge in membership, but with the equity there is an incentive to make something of genuine value that the streamer would want to make a permanent addiction to their collection. Of course if the streamer is bankrolling the production, it would make sense that they'ed have an exclusivity agreement in place so the holding company can't shop it around, giving them a very strong negotiating position (though they can't completely shaft the production team assuming they want to work with them in the future), but the people involved in the production would at least know what they are getting into ahead of time and decide if the equity they'd be getting is worth it. Of course this is a change to how it's been done in the past, but not that big a change - this is basically already how the producers for movies get paid, essentially you'd just have a much larger number of "producers" with much lower individual equity stakes. And ultimately a new medium with a new business model was always going to require a new compensation strategy.