Why are opening sequences so important to the film industry?

"Making a main-title was like making a poster, you're condensing the event into this one concept, this one metaphor a back-story that needs to be told or a character that needs to be introduced".
- SAUL BASS

Within the film industry, the opening title sequence of a film is considered to be the most important aspect in a film. Apart from the marketing elements, the title sequences are the very first images the audience sees. The quick clips lasts about two to three minutes long, which sets up the expectations of the audience. Most films last about 120 minutes, so the first two or three minutes are crucial to make or break a film.

Title sequences tell the audience who created the film and then based on their past work, the audience get an idea on what to expect from this film they are about to watch. If someone thinks the title sequence is poor; their first impression would be that the film will not be good. So I believe that the opening title sequence of a film the most important and attention grabbing section.