The document discusses film distribution and exhibition. It notes that major studios are vertically integrated media conglomerates that dominate the film industry. It also discusses how major studios distribute their own films both domestically and internationally, controlling a large percentage of box office revenues. The document outlines various distribution windows studios use to continue generating revenue from successful films through things like DVD/Blu-ray, TV, downloads, soundtracks, merchandising and more. It also discusses how conglomerates use synergy across their businesses and how marketing budgets for major studio films now often exceed production costs.