I know that https://en.wikipedia.org/wiki/Aereo failed in supreme court by trying to argue they were renting remote antenna/tuner. The difference is:
1 they were leasing
2 it was OTA broadcasts, made them look like a cable company
What if you could buy a movie disk and a dedicated drive. After your first purchase you would have right to resell it back to company (at a fixed price) or anybody else wanting to watch it with a drive in same data center at whatever price you wish (open market). Subscription would cover power/colocation and egress VPN. No Video streaming would be taking place - your drive would be mounted remotely over the network and work with any DVD/BR player.
Would that survive lawsuits?