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What does 'the streaming service's first joint project' mean? Is it ... joint project of Netflix and Higher Ground? Also it would be good to clarify the phrase 'streaming service's'
The film was released Wednesday on Netflix. It is the streaming service's first joint project with the Obamas' new production company, Higher Ground.
VOA article: Obamas and Netflix Present 1st Joint Film Project, ‘American Factory’
This was answered in the comments: The "streaming service" refers to Netflix. The general principle here is that the second sentence is referring back to the prior sentence. It could theoretically be referring to the first sentence's subject (the film), verb (was released), or object of the preposition (Netflix). Only the third option (Netflix) makes sense in this context, so the answer is... "streaming service" refers to Netflix.
Netflix is a streaming service and it's the only streaming service mentioned in the sample, and it is mentioned in the sentence directly prior to the one you're asking about. So when the author talks about 'the streaming service' we can be confident that they mean Netflix.
A 'joint project' is a project shared by two or more parties. The film is Netflix's project and it is a joint project between Netflix and the Obamas' production company, as you have already understood.
