It's understandable, I suppose, why the Hollywood machine (if one can even use such a term for such a multifaceted organism as this) would need to constantly churn out new product. Without new material, the possibility for new audiences would eventually dry up and revenues would soon evaporate.
But why small town film festivals and tiny regional theatres (stage theatres, not movie theatres) are so enamored with the new is beyond me. Think about it. You're in a small town or smallish city, one lacking a suitable Art House for off-beat cinema. The local festival announces a lineup. Do you really care whether all the films are premieres? I doubt it.
Those of you who are playwrights will know immediately what I'm talking about. It's the "premiere" requirement. I like to refer to it as the "virgin script" requirement. Most theatres looking to produce new work won't even look at a script if it's been previously produced. And most film festivals won't screen a film if it wasn't completed within the previous 12 month period.
I think by accepting these rules, we cheat ourselves out of some wonderful material. Personally, I don't give a hoot when something was made as long as I haven't seen it and I imagine I might like to. I guess the question is, what impact is this having on our culture, in general? Does it matter? It's funny because at the other extreme -- old stuff by dead white men -- we tend to revive and revive and revive. But there's this middle landscape that goes unexplored after a year. Seems a shame.
For more on this topic, see previous post: How Full is Full? (as in "Full Production")