As the co-founder of the only truly global feature film VOD service I can confirm this is the case. The situation with rights is quite nuanced. An example of one small but annoying detail is the fact that content is often licensed by language, and the local distributor owning streaming rights for a given film will only be interested in the local language rights. So in practice, you may have subtitles in German, French and English, but you can only allow their use in the respective countries. In order to realize the dream of a VOD service where everything is available globally in any language is going to require a complete sea change in the mechanics of film licensing. The technical challenges are comparatively trivial.