Hollywood and Silicon Valley Go to War for Talent
Name calling, hair pulling, and all-out brawling -- that's not just what you'll see on Netflix's (NASDAQ: NFLX) original series G.L.O.W (Gorgeous Ladies of Wrestling) but what investors should expect from the entertainment industry this year.
The rise of new-age media companies like Netflix and Amazon (NASDAQ: AMZN) -- and soon Apple, Alphabet, and Facebook -- has resulted in talent fleeing Hollywood for Silicon Valley. It's a major shift in the entertainment industry that could lead to significant upheaval.
Walt Disney (NYSE: DIS) recently unleashed a Pandora's box when it announced that it would be pulling its films from Netflix, opting to develop its own streaming service. Disney had the biggest stake in holding the traditional cable bundle together, so the move to create a Disney-branded streaming service -- along with a similar service for ESPN -- means the bundle is looking worse than ever.
Source: Fool.com
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