Speaking as someone who once worked at a company where these were real issues that came up - it's very often the case that intermediate parties in the contracts have dissolved.

Renegotiating the contracts would require lengthy and expensive processes of discovering the proper parties to actually negotiate with in the first place.

Although the contracts that were already executed can be relied upon, it truly is a can of worms to open, because it's not "Renegotiate with Studio X", it's "Renegotiate with the parent company of the defunct parent company of the company who merged with Y and created a new subsidiary Z" and so on and so forth, and then you have to relicense music, and, if need be, translations.

Then repeat that for each different region you need to relicense in because the licenses can be different for different regions.

The cost of negotiation would be greater than the losses to piracy tbh.