Yeah more than HLS. It would need to handle authentication and authorization such as is the user subscribed and what content is available them that they may have purchased a la carte. It would need listing of available content for search and indexing by the client. Presumably the major forms of content are standalone (ie movies), series which are a collection of content broken up into seasons, and potentially live streams. Finally it needs a way to purchase new content.

The industry is standardized enough to agree on distribution formats (VHS, DVD, etc) and to have awards for different established categories and video rental companies used to be able to organize their collections well enough. I want studios to handle distribution, that is operating a streaming farm for their content, and get out of owning the storefront. I want a digital Blockbuster type experience with everyone's content commingled. No having to go to the Disney store, and the HBO store, and the Paramount store and oh last month this content was on Netflix and now I can't find it because it's on Amazon this month.