Netflix is eating Hollywood

Wall Street Journal front page, "THE NEW HOLLYWOOD VILLAIN: Netflix is hogging talent and pushing up prices to create shows, spurring pushback," by Joe Flint and Shalini Rakmachandran:

• "Netflix's spending on original and acquired programming this year is expected to be more than $6 billion, up from $5 billion last year, more than double what Time Warner Inc.'s HBO spends and five times as much as 21st Century Fox's FX or CBS Corp.'s Showtime."
• Why it matters: "Its shock-and-awe spending — combined with that of Amazon and other new players — is driving up costs industrywide and creating a scarcity of people and equipment."