No, it seems you and many others fundamentally misunderstand that a blockchain is a distributed ledger as primary functionality, not a data store as such. It stores proof of ownership, that you purchased it from an authorized registered distributor, that’s it. Just to be thorough, all ledgers require further external consensus for functionality.

In this case, a service (who stores and sends the big file) must recognize your token as ownership. What this solves is that when movie x is bought from Amazon and moves to Streamio and then moves to Paramount, you can load your token into Paramount and Paramount can see your token was created by warner brothers, so they can legally serve you Blazing Saddles without contacting Amazon or Streamio, which since has gone out of business.

Today, when they move licenses or whatever else happens, you lose whatever you bought. With a distributed ledger you automatically have proof of purchase to any entity that is able and willing (or legally forced) to use that ledger for validation, and no single entity can just erase your ownership like they can and do today.