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The subsequent decades saw the rise of the "New Hollywood" of the 1970s, where visionary directors like Francis Ford Coppola and Martin Scorsese temporarily wrested control from the studios. Yet, the industry’s pendulum soon swung back toward commercial safety with the advent of the blockbuster. Steven Spielberg’s Jaws (1975) and George Lucas’s Star Wars (1977) were not just hit movies; they were the prototypes for a new business model focused on high-concept premises, wide release strategies, and, crucially, merchandise and sequels. This period birthed the modern franchise, a template that would come to dominate the 21st-century landscape.
Today, the entertainment landscape is dominated by a handful of media conglomerates—Disney, Warner Bros. Discovery, Netflix, Amazon, and Sony—each built on a foundation of intellectual property (IP). The most striking example is (under Disney). By meticulously crafting the Marvel Cinematic Universe (MCU), Kevin Feige demonstrated that a serialized, interconnected narrative could span over two dozen films and generate tens of billions of dollars. Productions like Avengers: Endgame are not merely movies; they are cultural events that reward long-term audience investment. Similarly, Warner Bros. leveraged its DC Comics properties and the wizarding world of Harry Potter to create enduring franchises, while Netflix disrupted the traditional model by pivoting to data-driven production, greenlighting hits like Stranger Things and Squid Game based on algorithmic predictions of viewer taste. The subsequent decades saw the rise of the
The dominance of these major studios has profoundly shaped the nature of popular productions. The most obvious trend is the reliance on existing IP. Sequels, prequels, reboots, and cinematic universes now dominate box office charts, from Top Gun: Maverick to Spider-Man: No Way Home . This risk-averse strategy generates reliable revenue but often marginalizes original, mid-budget dramas and comedies. A second defining characteristic is the globalized production. Studios now craft stories designed for international markets, leading to the inclusion of globally resonant stars, simplified moral narratives, and a reliance on visual spectacle over dialogue—a trend that can homogenize cultural expression. Finally, the rise of streaming has redefined production itself. Series like The Crown (Netflix) or The Mandalorian (Disney+) boast feature-film production values, while the "binge model" allows for complex, long-form storytelling that traditional network television could never accommodate. This period birthed the modern franchise, a template