Absolutely, but I'd be more specific.
Customers usually have rights to refund or partial refund if a purchase is not "fit for purpose" or "as advertised".
If a game/movie/show is purchased on the offer of unlimited access now and into the future, and that access is then revoked, the customer should be by law entitled to compensation - either full refund if the product has never been used (which is surprisingly common), or a partial refund based on number or duration of times accessed.
Providers would be a LOT more careful about revoking access to purchased materials if that action had a monetary cost associated with it.