Could be a mix things from attention spans changing in various demographics to economics to increased spending in travel to other things.
I'm open to attention spans changing. Or demographics changing. Or both. My money, though, is pandemic hangover. I'm struggling to see how anything else comes even close in explanation power to, "we were in a pandemic."
Also Youtube is the most used streaming app followed by TikTok ... how many are watching for free? See Google results for this data https://www.google.com/search?hl=en&q=are%20people%20using%2...
My thoughts are based on the data above, other similar data Ive seen, my own shortening attention span and these years lackluster box-office compared to 2022 (movies from 2022 that opened above and or well above 100 million https://www.boxofficepro.com/the-top-10-movies-of-2022-at-th...)
To me Hollywood needs to worry even more so the writers, actors and etc ... a younger demographic the future's attention span looks to be elsewhere and they aren't paying to watch their media.