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The landscape shifted dramatically in the late 1960s and 1970s with the collapse of the studio system and the rise of the "New Hollywood." The Paramount decision of 1948, which forced studios to divest their theater chains, eventually led to a power vacuum filled by a new generation of auteurs like Francis Ford Coppola and Steven Spielberg. This paved the way for the modern concept of the "tentpole" production. In 1975, Jaws , and subsequently Star Wars , revolutionized the business model. Studios realized that massive upfront investments in marketing and production could yield unprecedented returns through "event" movies. This birthed the franchise culture that dominates the 21st century. Today, major studios like Disney, Warner Bros., and Universal operate on a model where a few massive blockbusters—often superhero epics or sequels—subsidize the rest of their slate. The production of a film is no longer just about storytelling; it is about launching intellectual property (IP) that can fuel merchandise, theme parks, and spin-offs.
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