I think it's pretty clear that the money people in entertainment -- be it video games, movies, TV shows, or even printed paper books -- really want properties that they can own (monopolize) and build low-risk, profitable releases on. It's sort of the logical endpoint of applying capitalism to arts and entertainment.
We expect the game studio to be like a factory, a productive arrangement which the owners are incentivized to maintain and keep operating smoothly. Just as a factory builds a product, we say, a studio builds a game or a movie or whatever.
But the owners see the franchise itself -- "Fallout" or "Halo" or "Avengers" or "Star Wars" -- as the factory, the thing that's worth owning, the thing to keep churning. Just as a factory builds a product, they figure, a franchise builds a reliable, low-risk profit.
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