Nope. It has only worked that way since the breakdown of the studio system in the early 1950s.

But the key to making it efficient is well-defined and well-understood roles.

Well, since the studio model broke down and gave way to the guild model, maybe ... but the studio model was solid until it wasn't. Baseball franchises (for example) own the players until they are allowed out of their contract to become free agents (like after Marilyn Monroe's contractual obligations to the studio back in the day).