Entertainment is not one decision-space. A games publisher's executive team and a streaming service's executive team make almost non-overlapping decisions, and a studio that produces for both makes a third set. Three briefs, each with its own buyer, $495 each.
Take-Two publishes Grand Theft Auto at 12.4% of net revenue and its top five franchises at 54.3%. Electronic Arts — larger, carrying the identical risk factor — publishes no franchise percentage at all.
Starz discloses that 29.0% of its revenue comes through Amazon. Netflix, Disney, Warner Bros. Discovery, Paramount, Comcast and Amazon all carry the same risk factor and publish no number.
California's $750m incentive program began July 1, 2025. Los Angeles on-location shoot days still fell 12% year over year in Q2 2026 — and 36% against the five-year average.
One decision runs deliberately parallel across all three: concentration. Franchise concentration for a publisher, licensor concentration for a streamer, title and talent concentration for a studio. It is the strongest section in each, because it is the one exposure the filings sometimes disclose — which makes the answer checkable rather than argued.
← All decision briefsLicensing. A brief is sold for use inside the buying organization — read it, quote it internally, build on it in your own planning. It may not be resold, published in full, or redistributed outside your organization. Quoting a figure externally is fine with attribution to CULT+MATH and the as-of date.