The entertainment industry has a long history of ignoring their customers and trying to dictate what is popular.
For a short time, relatively speaking, they've been able to figure out how to do that and reaping a huge profit while it was happening. The amount of money was so big it blinded them to how the world and their markets were changing. Instead, these industries focused and focused again on how to industrialize (for lack of a better term) popularity of a few things. That is to say the popularity of "Boy Bands" in the '90s wasn't a complete accident and that yes, if you thought there was a formula for them there is indeed is.
At this point, much of the upper brass in these companies are so entrenched into these methods of profit that they can't see how to get out and maintain their power structures. It's not just the profits that they've become used to. It's also their position. Which is only human. They perceive that they've worked hard to become VP or Pres of their current company and their actions aren't going to disrupt that even if it means long term their industry will survive.
For what it's worth, these companies will continue to discount the success of Netflix and others simply because to do otherwise would likely imperil their current position. Change, will only occur when the companies are facing complete ruin, if it happens at all. Until such time that we see TW or Sony winding up their studio arms, I don't think we'll see them adapting.