Because studios are very capital-intensive. You've got to front hundreds of millions of dollars for a year or two before the movie hits theaters. Not to menti

Because studios are very capital-intensive. You've got to front hundreds of millions of dollars for a year or two before the movie hits theaters. Not to mention that it's like VC - you've got to invest in 5 movies because 2 of them will flop, 2 will be modest successes, and 1 of them will hit it big and nobody knows which ahead of time. So you're talking about getting your hands on like a billion dollars in startup cash for a studio.