It’s important to note that the same is essentially true for theater goers. As a viewer, I am investing my time and money in a movie experience. With tickets being $15+, a theater date can easily cost $50. When a trip to the theater costs that much, I sure as hell don’t go every other weekend, and I definitely don’t want to see something batting 57% on Rotten Tomatoes.
So it ends up being a vicious cycle where studios only greenlight established IP or “surefire” bets and viewers only see the big hits. I don’t know anyone anymore who just casually goes to the theater because it’s so expensive, so in turn, casual movies have died. The only thing I can think of that’s weathered this are genres with dedicated fan bases, like horror.
Walking out of an unsatisfying, crap movie after dropping $50 hurts, and staying at home is the easiest way to avoid it.