I remember reading them back in the early 90s (Robin Hood: Prince of Thieves, Far and Away, Back to the Future). They don’t seem to be a thing anymore (or am I just not noticing them).
As an aside I remember liking them but I was a preteen at the time so maybe they were terrible and I just liked the movies.
They still make them. I’ve read quite a few of them. They’re usually far from being literary masterpieces but they’re a fun guilty pleasure for me. Right now I’m reading a novelization that just came out this year for the show Firefly. It’s just fun being back in that world.