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It follows the alphabet. Theater owners would refer to big movies with big stars as A pictures and exploitaion movies as B pictures. Originally, exploiation devices were used to attract audiences because a movie had no big stars to attract an audience, but now almost every big budget movie is an exploitaion movie with a big star, and the phrase B-movie is quickly vanishing or is used only to refer to pre-80s style movies.
Hope that helped.
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