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Based on data on the North American film industry in recent years, this chapter reveals the development, changes and new trends in the North American movie and television industry (dominated by movies) in recent years by discussing the major events that have occurred and are taking place in the film industry. By comparing the performance of the major six Hollywood companies and their parent companies, this chapter also briefly describes the strategy, tactics, policies and operating modes of the six companies. In addition to analyzing the industrial scale, industrial structure and major companies, the streaming media companies and businesses represented by Netflix are included, pointing out that Netflix has challenged and impacted the traditional operation mode of Hollywood film companies and film screening industry through the streaming media business. In January 2019, Netflix became officially involved in mainstream Hollywood film and television production and distribution, becoming the first technology-based film and television content creation and distribution company established in Silicon Valley under the umbrella of the American Film Association. This is a new move for Hollywood’s mainstream media and film companies to regroup. It not only shows the position of Netflix in the global movie and television system, but also shows once again Hollywood’s film industry’s multi-capacity. The Hollywood film industry is continuously changing due to this kind of healthy competition, mergers and acquisitions, recombination and rivalry. Three mainstream media groups – Disney, Warner Bros. and Universal – will also launch their own streaming media businesses, respectively. They will not only compete with Netflix and other streaming media companies strategically and tactically, but also meet their existing audience’s consumption and viewing needs, which would ensure their status among the Hollywood production and distribution companies.