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The problem is they are doing the same thing as the other corporates--Netflix seems to favor films made outside North America or Europe--how does that help American or European artists?YouTube, Netflix, Amazon Prime, Hulu, HBO, Sky and very soon Apple too.
Those powerful Hollywood studios won't feel it overnight, but people are watching much better quality TV and watching films that have never had a cinematic release.
The fact is, movies don't lose that much. You are seeing two factors when you see this much money 'lost': Projected Totals first run, and Creative Finances - for which Hollywood is well known for.A movie can lose $200 million and no one gets fired-that's how irrelevant the box office has become!
There was a time when a studio executives or two might lose their job after a particular movie did badly-those days are gone. But the companies are too big to care (they do care about having audiences for their message but they seem to operate from the mentality that the public has no where else to go). If you listen to a Hollywood Reporter roundtable discussion with the heads of production--they do not care at all about film-as a business or an art. They are appointed by the head office. The reporter asked them what they would do if they weren't making films and only one executive said he liked it-the rest said they would be selling shoes or hedge funds. They also get a huge amount of money from governments in the form of subsidies. And someone like Weinstein couldn't have been able to fire and blacklist people if they were running a serious business. Mira Sorvino was blacklisted for reasons that had zero to do with business. The fact that other film companies (allegedly Weinste's competitors) went along with the blacklist-is the most telling part. Totally corrupt. If a pencil manufacturer operated like Hollywood they would go broke. It's not a merit-based business-not for the big studios (and truthfully it never was--even in 1930 Hollywood was looking to dominate foreign screens--England, Italy, and other countries had to enact rules to protect native artists. Unfortunately it never worked for long.People aren't getting fired, because the movies aren't actually losing that much money. Trust me, those companies are as interested in making money as any others.