The past few years they've been concentrating resources on fewer larger budget movies with a much greater chance of success. The likes of the Marvel MCU, Star Wars and other sequels and remakes. They've chosen safe formulaic stories with evidenced success and pumped large amounts into the marketing of these films. The initial success of these drowned out any prospect of a low budget hit and have killed off the mid tier movie (those that were just fine and perhaps eeked out a small profit). Commentators in the past have noted how this focus could kill off the industry.
Now a triple whammy. Firstly, there's less current evidence to justify funding these smaller films, as a consequence of the past few years. Secondly, the popularity of the formulaic big hit is starting to wane and thirdly, streaming, a wild card, has introduced uncertainty and volatility into this business model.