IMO companies should have 5 years to make money off what they produce. That should give them time for a theatrical release and a bulk of the at home sales and early streaming boost. For a TV series, maybe it’s 5 years after the show ends. After that, it enters the public domain to avoid media being lost to time and the mess we currently have.

If a studio hasn’t made enough money to recoup their costs and generate some profit in 5 years, it is unlikely they ever will.

I’m not sure how this would work with something like a soap opera that has been on air for 50+ years with no sign of stopping.