The Blockbuster Age of Hollywood is the age that we are currently living in. It marks the end of the creative freedom and excesses of the New Hollywood era.
There are currently 6 major film studios that produce the world's most popular blockbuster films.
Warner Bros, 20th Century Fox, Universal Studios, Sony Pictures Entertainment, Paramount Pictures and Walt Disney Studios.
Examples of Blockbuster Films:
Marvel Cinematic Universe Films (The Avengers, Captain America, etc), Transformers Franchise, etc.
The problem with current blockbusters films are doing special effects for the sake of it, dropping the quality of the story line for the visuals, slow decline of mid-budget movies and more.
The future of Blockbusters is unknown. Franchises will be bigger, companies will earn more money to satisfy the audience.