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For nearly a century, traditional Hollywood studios have anchored the entertainment industry. These legacy companies rely on massive theatrical releases, extensive intellectual property (IP), and deep historical catalogs.

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: Stranger Things , Squid Game , Bridgerton , and The Crown .

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The global entertainment landscape is dominated by a handful of major studios whose production strategies, distribution networks, and intellectual property (IP) management shape not only what audiences watch but how they experience culture. This paper examines the evolution, business models, and cultural impact of leading entertainment studios—including Walt Disney Studios, Warner Bros., Netflix, and A24—alongside their most iconic productions. By analyzing case studies such as the Marvel Cinematic Universe (MCU), Game of Thrones , and Stranger Things , this paper argues that the contemporary "studio system" has shifted from a production-centric model to a franchise and experience-centric ecosystem. The findings suggest that success in the 21st century is less about individual films or shows and more about the creation of persistent, cross-platform narrative universes.