New York (CNN Business) "Friends" will be there for you on Netflix through 2019, but the minor internet meltdown over a rumor that the show was leaving goes to the heart of the biggest question about Netflix's short-term future: What happens if and when its competitors pull their most popular content from Netflix to make it exclusive to their own streaming services?

One show might not make a difference, but Disney and WarnerMedia , both of which are launching streaming services next year, hold the key to a huge trove of content that lives on Netflix. WarnerMedia's "Gilmore Girls" and "The West Wing" and Disney's "Grey's Anatomy," for instance, all had big fanbases when they lived on their respective networks and are now big draws for Netflix.

And the situation for Netflix could potentially get worse. Comcast, the parent company of NBCUniversal, has not announced plans for a streaming service of its own -- but it could, and then it could decide to pull its big draws, like "The Office" and "The Good Place."

Industry observers think it's not so cut-and-dried, though.

Jill Rosengard Hill, an executive vice president at Magid, a research-based media firm, told CNN Business that "the potential loss of a 'Friends' is notable, but one show does not make a subscription service" because Netflix is "so far ahead that it's unlikely that they'll lose their dominant position for awhile."