There used to be dozens of theaters in a city, each one with a different set of contracts playing a different set of movies. Nowadays there are hundreds of movies in a city, all of them with the same set of contracts playing the same 5 movies.
Yes, everything is too expensive, what means nobody can afford to take a risk. Not the public, not the theaters, not the studios. (You can see people on this thread commenting that they won't.)
There are what? 3 movie studios nowadays? Or are those 2? Either way, you can't expect diversity from that.