Why have the streaming costs increased so much?

Surely the cost of storage has not gone up. And the cost of sending the 0’s and 1’s hasn’t gone up either.

Are movie studios demanding vastly more money from the streaming services for the movie and TV content? Maybe the costs to make new movies and tv shows have gone up substantially but has licensing costs for the old movies and shows gone up too?

Are these extra costs just going to the streamers to run up profit? Genuinely curious about the economics here. I know the streaming business is highly competitive so I don’t think it’s just rent seeking so wonder what else is going on.