Media ownership is very important because your media can't be removed from centralized streamers. However, third-party media lets you to consume the content but you don't own the rights of it, and when you create your very own media, you own the rights of it.

Your media can be either physical or digital, no matter what formats you use.

Even centralized digital media stores can remove your stuff, especially if you consumed such content before.

But, if you don't want to own media go back to Kindle, Game Access, Spotify and Netflix.