The traditional TV space has been infiltrated by deep-pocketed tech giants like Netflix and Amazon (and soon — Apple), which has led to a massive increase in the amount of money spent on TV content.
“There’s a lot of people paying top dollar and it’s definitely gotten more expensive, no question about that,” said Showtime president & CEO David Nevins on Tuesday. “There’s no question – it’s an arms race.”
Nevins’ comments came during a keynote discussion, along with AMC Networks CEO Josh Sapan, at TheWrap’s TheGrill conference at the SLS Hotel in Beverly Hills.
Nevins said that, in total, there’s about $84-85 billion being spent on content, with about $19 billion of that coming from tech giants like Netflix, Amazon, Hulu and Apple.