The battle of the streaming video services is escalating.
Netflix and Amazon have ramped up their spending on movies and TV programs for their respective subscription Net TV services so much that they are surpassing many traditional networks, such as HBO. Last year, Netflix spent nearly $5 billion on content, while Amazon spent $2.67 billion — that’s more than twice the amount each spent in 2014.
Each is expected to continue throwing more cash around. Netflix plans to spend $6 billion in 2017. Why? Because consumers have taken to TV delivered over the Net — so-called “over-the-top” TV — with a growing percentage opting for multiple subscriptions to streaming services.
