This is much more complicated than "content companies can raise prices at will". Netflix makes ~$5.6 billion per year. A big chunk of that goes to content lic

This is much more complicated than "content companies can raise prices at will". Netflix makes ~$5.6 billion per year. A big chunk of that goes to content licensing so they spend several billion dollars a year on content. That revenue is pure profit for content companies. If you're a CEO of content company and e.g. Netflix is willing $100 million a year for, say, license all seasons of "Friends", you can't simply say "I want $110 million" and expect Netflix to pay it. If you're not willing to license for $100 million/year, then you're loosing $100 million/year of pure profit and shareholders like profit. The more money Netflix has to spend, the more they can shop around so content companies don't have as strong of a negotiation position as many seem to believe. And Netflix is being very smart by investing aggressively in their own content, which they'll own forever, which is an always growing asset.