>>149911623
Probably because development costs kept increasing. That's what killed licensed games the PS2 gen was the last hurrah. During the PS3 gen we saw a diminishing number of licensed games. And sadly by now it all got replaced by shitty smart phone games.
Disney's biggest success licensed game being Kingdom Hearts. After the failure of Epic Mickey even Iger realized its better to stay away from the gaming industry as far as their homegrown media is concerned. Stuff they acquired like Marvel? That's fair to license out and even then it's not common anymore like it used to be hence the death of Marvel vs Capcom.