'American Hustle,' a new movie with an A-list ensemble cast, will be distributed by Sony Pictures next month, but it was financed by the much smaller, independent Annapurna Pictures.

Hollywood: Go Big or Go Third Party - WSJ.com

Soon after the smack-talking teddy-bear comedy "Ted" grossed a spectacular $568 million at the box office last summer, NBCUniversal Chief Executive Steve Burke had good news for Wall Street: "We'd like to see a 'Ted 2' as soon as we can."

What Mr. Burke didn't mention: "Ted 2" isn't the media conglomerate's movie to make.

That is because the original was financed by an independent company, with Universal Pictures handling distribution and marketing. It is a growing trend among Hollywood's legacy studios, which these days are inclined to put most of their chips on big-budget "tentpole" superhero movies and sequels with a built-in following rather than gamble on an original, middle-budget film with less potential to be a global blockbuster.