## 1 Introduction  
Entertainment platforms have evolved from traditional formats such as live theater and radio in the early 20 th century to modern formats driven by the advent of television. The digital age spanning the late 20 th and early 21 st centuries brought the internet and online streaming, thereby revolutionizing content consumption. This shift allowed for on-demand access to a wide range of content, from movies to user-generated videos. Recently, mobile technology and augmented/virtual reality have ushered in a new era of immersive and interactive entertainment experiences, ultimately reshaping how we engage with and consume entertainment content [1; 2]. The increasing demand for online entertainment platforms has led to a significant increase in the number of companies vying for market share in this industry. Platforms such as Netflix, Amazon Prime Video, and Disney+ have emerged as prominent players. The proliferation of streaming services, along with the prevalence of social media platforms, video game companies, and music streaming services, has provided consumers with an unprecedented variety of options. As the number of providers continues to grow rapidly, companies are compelled to constantly innovate and enhance their offerings to attract and retain users. Consequently, the dynamic and ever-evolving landscape of intense competition has spurred creativity, resulting in a wide array of entertainment choices that cater to the evolving preferences of consumers [3; 4]. Online entertainment companies strategically prioritize perceived value and satisfaction to establish and maintain a robust competitive advantage. They understand that these factors play a pivotal role in nurturing customer loyalty and ultimately affect sales and overall profitability [5; 6]. Hence, these companies make substantial investments in delivering high-quality content, ensuring user-friendly interfaces, and maintaining responsive customer support systems. Their continuous efforts to enhance user experience and offer personalized recommendations are aimed at fostering enduring customer loyalty, which translates into consistent sales and long-term financial success in the highly competitive online entertainment industry [7]. The relationships between perceived value, customer satisfaction, trust, and loyalty are interconnected in a way that underpins successful business-customer dynamics. A foundational driver is perceived value, which refers to the perceived benefits a customer receives relative to the cost of a product or service [8]. When customers perceive high value, they are more likely to be satisfied with their purchases [9]. Customer satisfaction, in turn, builds trust as positive experiences foster confidence in the brand or provider. Trust is a critical element as it not only sustains loyalty but also encourages customers to become brand advocates. Loyalty, the ultimate goal, is the result of consistently positive experiences, trust, and satisfaction; that is, loyal customers choose to repeatedly engage with a brand and promote it to others, ultimately contributing to long-term business success [10]. While existing research has extensively explored the associations between perceived value, customer satisfaction, trust, and loyalty across various domains [11], the application of these findings to entertainment platforms is not straightforward. Distinguished from conventional products and services, the entertainment industry encompasses a diverse array of subjective and emotionally charged content, introducing complexity into gauging perceived value and satisfaction in a context-specific manner. These intricacies are further heightened by the personalized nature of customer preferences and the continually evolving technological landscape within the realm of entertainment, thereby posing challenges in directly implementing established models.