The 1970s and 1980s saw the rise of the blockbuster film, with movies like "Jaws," "Star Wars," and "E.T. the Extra-Terrestrial" breaking box office records. This era was marked by increased competition among studios, with the emergence of new players like Steven Spielberg's Amblin Entertainment and George Lucas's Lucasfilm. The blockbuster era also saw the introduction of home video technology, allowing audiences to experience movies in the comfort of their own homes.