Post-studio, end-of-the-millenium Hollywood since the 1970s belongs to a new industrial structure. Film is not the only product; the new Hollywood has become home to expanded mass entertainment entities, including television, cable, satellite, publishing, newspapers, music, merchandising, theme parks and other entertainment venues. The industries, now owned by multi-national conglomerates, like Disney or News Incorporated, are vertically integrated while they have expanded horizontally.

Aggressively entering other world markets, they often control production, distribution and exhibition of transnational entertainment products, whether international film financing of non-American films, distribution of Hong Kong kung fu films, or ownership of multiplexes in Europe.