The battle for streaming dominance is getting tougher.
According to a report in The Wall Street Journal, Disney (DIS) has banned Netflix (NFLX) ads across its entertainment TV networks, ahead of the entertainment giant’s launch of its new streaming service.
However, platforms across the board are shelling out serious cash to fight back, especially when it comes to content creators.
Earlier last week, Netflix announced it will be signing The Duffer Brothers — the brains behind “Stranger Things” — to a massive, multiyear deal, a move it hopes will pay off just like the ‘80s-inspired smash hit of an otherworldly invasion in a small town.
The deal is reportedly worth nine figures, according to “The Hollywood Reporter.”
Other platforms are relying heavily on original content to lure in new viewers, including Amazon and Apple (AAPL). Meanwhile, NBCUniversal’s (CMCSA) new Peacock service is set to host “Saved by the Bell” and “Battlestar Galactica” revivals.
According to Variety, Amazon sealed the deal with “Fleabag’s” Phoebe Waller-Bridge in an exclusive contract with Amazon Studios worth $20 million per year. The news follows Waller-Bridge’s successful Emmys run, where “Fleabag” captured six statuettes for its second season.
Meanwhile, Apple is hoping A-list pros like Stephen Spielberg and Oprah Winfrey can deliver content to surpass the competition. The company already revealed its plans to spend $6 billion on original programming ahead of its highly anticipated November launch.
And it’s not just content creators cashing in. Media powerhouses are shelling out big bucks to land old favorites, in a bid to compete for viewer nostalgia.
Last month, Netflix snagged the global streaming rights to ‘90s sitcom “Seinfeld” in a reported deal worth over $500 million. The so-called “show about nothing” represented a crucial win for the company after it lost both “Friends” and “The Office” to rival competitors.
Alexandra Canal is a Producer at Yahoo Finance.