Hollywood has lost its influence because its little bubble-contained culture became completely antithetical to the real American culture over the last 40 years.
In effect, the entertainment community based in New York City and Los Angeles are essentially the same indulgent, parochial and sanctimonious denizens of the fictional capital city of Panem described in the novel The Hunger Games. It's these people that defined the phrases coastal elites and flyover country.
The entertainment community's unquestioned support for Hillary Clinton (some estimate they contributed US$300 million to her Presidential campaign) explains the anger over her loss (still going on even 10.5 months after Election Day 2016) and explains why middle America are taking it out on the entertainment community with a 16% drop in movie ticket sales in summer 2017 compared to summer 2016.
The $300 million figure just shows how much they are willing to lose to advance the agenda, plus the hundreds of millions they have squandered in movies that bombed.
They thought they had an endless stream of money. They don’t.