It always amazes me how the people in the content creation industries keep their jobs. Even though comprehensive studies have shown that the public responds randomly to entertainment products, they still skate by claiming to 'know what the public wants.' Analysis of the decisions of past executives at movie companies showed that executives who were said to be "on a hot streak" were mostly benefitting from the results of projects started by their predecessors, and then when their "streak" ended and they left, their replacement got the same benefit from the projects they left in the pipeline.
The book 'A Drunkard's Walk' analyses various different industries and situations and shows where randomness shows up. The success of media is one of the strongest ones. No factor correllates with success. Not budget, star-power, genre, directors, nothing. For every runaway hit there are exactly as many abyssmal failures. Before Titanic hit theaters, film critics and industry insiders were dead certain that it would prove to be the most monumental theatrical failure in history, making Kevin Costner's Waterworld look like a walk in the park. Of course, they were wrong. They will always be wrong as often as they are correct. Their entire careers are built on, quite literally, absolutely nothing. These executives choose what gets produced, and they are incompetent at it. Yet they are paid millions of dollars. It's astonishing that they get so far with unmitigated bullshit.
This is why large movie production houses will die. Their performance has always been random in terms of producing successful content. But they always made up for it by having total control of the distribution. Now, distribution is worthless. Any 12 year old with an Internet connection can distribute media better than large corporations can. Take away that control and profit from distribution, and those companies will end up simply fading into bankruptcy after enough failed projects pile up.