Probably the latter. Because as you say, studios have found their formula and want to stick to it as much as possible to minimise the likelihood a new film/TV s

Probably the latter. Because as you say, studios have found their formula and want to stick to it as much as possible to minimise the likelihood a new film/TV series/book/game flops. This makes perfect sense for a company (since they're almost always very risk adverse), but doesn't work so well if you want more original works or creativity. Entertainment requires outsiders, non corporations, etc to provide at least some of the works there, otherwise you'll get endless sequels, reboots and rehashes until they stop selling.