What do the repetitive studio credits at the beginning of movies means?

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A lot of time when watching a movie, you’ll see a series of credits like this at the start:

FilmCo and MovieGold presents: A FilmCo and MovieGold Studios production: <interlude with names of starring actors> A MovieGold Film: MovieTitle!

What does all that mean? Is it just advertising to hammer home the names of production studios in the audiences mind, or is there an actual distinction between the meaning of “presents”, “production”, etc.?

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