I don't understand what this has to do with copyright laws. This has to do with content licensing and studios not wanting to license content...
Copyright should be adjusted so that people can make money off of their creations without allowing the culture to be held hostage to corporations. If the copyright term was shortened to, say, 10 years, a Netflix-with-only-content-from-10-years-ago would be totally viable without having to ask for anyone's permission.
Copyright is a government-granted monopoly. It's gotten totally out of control and severely restricts competition in this type of space.
The movie industry has Long spent its years fighting piracy instead of providing a solution to a problem. Now there are solutions to the problem and the industry is refusing to adapt and continues to hold the content for themselves instead of licensing it to the likes of Netflix.
We know the studios have the right to license content because that's exactly what they do when they sell licenses over seas to broadcasters in other countries to air content.
This isn't about copyright. It's about the studios lack of ability to license content.
This is why in 2017 piracy is still a major issue.
This isn't even getting into exclusivity licensing that the studios seem to be real keen on doing with Netflix, Amazon, Crackle, VUDU and a jillion other streaming services. You know those shows that are branded "Netflix Original" on Netflix? Those aren't literally made by Netflix, they've just paid for some/all of the production and licensed them exclusively for some period of time. They're still produced by all the same studios that have been producing shows and movies for years.
Right now, competition is hamstrung because people are prevented from entering the market with anything that the consumer would find desirable, barring permission from the rightsholders.
Competition is not real competition if the same data cannot be accessed. For example, Chrome and Firefox compete because they both access the same internet, and whichever browser provides the better experience for that internet will win out. That kind of thing is not possible on walled gardens like Facebook because the law allows them to obliterate anyone who would create an alternate "Facebook browser", and it's not possible with things whose primary offerings fall under copyright protection, like Netflix.
We need to open these things up so that people can compete and provide the consumer with the best experience without needing anyone else's permission. It's true that most people will want access to new releases, but if copyright expired after 10 years, you'd at least have a secondary service that people would actually want to use, which would compete with Netflix et al for viewership on a lot of the content.