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I prefer streaming movies and music, because I can try things out that I wouldn't otherwise buy. But I purchase hard copies of video games and books so I can exchange with friends (and because they provide more hours of entertainment).
Streaming / cloud storage of media will make more money for whoever is distributing it because it's hard to share.
Oh and when the internet goes down? We're screwed.
Either way, I'll stick with my streaming subscription (I don't have the dvd subscription anymore). And there's no way I'm paying for yet another service, no matter which movie company. And if the day comes when Netflix is no longer worth the $7.99 a month, I'll cancel it. It's just not that big of a priority for me.
I think it's great that a major movie studio (Warner) has finally realized that this streaming thing is not a fad. Hopefully other studios will follow. Bad news for cable TV providers in the long run though.