I currently "own" 493 movies on iTunes. I don't use any streaming servies because my experience with them has been horrible--a couple dozen movies I want to watch with hundreds or thousands of filler movies that I have no interest in. When I started buying, I went into it with my eyes open. Apple seemed to be the safest option for companies that would be around for some time and unlikely to pull the plug on a service that wasn't doing as well as hoped. I've never had content pulled.

I'm the sort of person that like to rewatch things. As a kid I rewatched Star Wars so many times that I knew the lines in the entire movie by heart, these days the Big Lebowski is comfort food that I'll throw on when I'm bored. So the "rent" option on iTunes never made sense to me. And my concern with something like Netflix is--will it be there when I want to rewatch it?

If Apple ever gets out of the game I hope they give an out for people who have bought things, but I'm not optimistic. I'm less worried about them pulling content they lost a license to because I hope that licensing for purchase is a different world than licensing for free streaming.

(Also, remember that this is exactly the same for app stores. I did have an app pulled that I paid for. So it does happen, I'm just hopeful that it doesn't very often.)

EDIT: I just looked and I own two copies of David Lynch's "Lost Highway" (a mistake since I already owned it, and later saw it on sale and bought it without checking my list. It had changed hands and was being sold by a different distributor.) I searched for it on a non-logged-in computer and its not available to purchase at all. While this is a guarantee of nothing, it suggests that Apple's licensing with the movie rights owners may retain rights beyond the termination of the license.