[atdrummond]

That’s not true. A film’s tax write off value decreases with time. As long as the present tax write off value exceeds the present value of all future film revenue, then it makes sense to deliberately not sell it and leverage the tax credit.

[jasomill]

IANAA, but if the depreciated book value of a movie or show exceeds projected future revenue, shouldn't they be writing down the difference rather than writing off the asset?

Put another way, unless they physically destroy all copies of the movie or show or, for some other reason, are no longer able to distribute, license, or sell it, how can they plausibly argue that the fair market value of streaming rights to a reasonably popular movie or show is zero?