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It is reminents of a now obsolete system. Same as region code on DVDs. When you needed to manufacture and ship the product, it made sense to have regional sublicences. For digital products this is no longer an added value and in fact a negative value. However it is entrenched in many media forms. Since it is now a negative value it will die out over time, but while it is dieing , its death throws will be felt. At best, for digital products it makes sense to licence out the translations to specific languages, it no longer makes sense or adds value to do it by regions.
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