A Theatrical Library is a collection of movies stored as archives and reference; also for loan or hire. Film libraries have become one of the most valuable assets of a studio. The libraries contain all the blockbusters, as well as more forgettable epics. They also contain the studios’ television production, which, in some cases, is quite valuable. The movies’ value lies in their ability to be recycled after their theatrical release – in subsequent releases, home video, pay television, network television and syndication. As a film moves down the entertainment chain, it can generate millions of dollars for its owners. Even if a studio is not getting much for a film, anything that comes in is pure profit. Most people familiar with the film industry agree that a library’s most valuable properties are the movies that the studio has produced in the last two or three years.