It's important to note that the only reason that Hollywood went from a vertically integrated system to a disaggregated one is because the US Government filed an antitrust suit that forced the disaggregation [1]. And now that that antitrust pressure is gone, we see Hollywood slowly returning to a vertically integrated system, where studios, distribution networks and theaters are all operating in close conjunction to push movies that "ought" to be profitable [2].

[1]: https://en.wikipedia.org/wiki/United_States_v._Paramount_Pic....

[2]: https://mattstoller.substack.com/p/the-slow-death-of-hollywo...