In media pundit Michael Wolff’s eyes, there isn’t any competition between the two, because old media has already crushed new media, primarily because internet TV platform still relies on old-line broadcasters.
To wit: Netflix pays the television industry $3 billion in licensing and production fees for the right of offering their programming to Netflix subscribers.
Netflix, of course, has a growing stable of original content. Yet network and cable programming remains hugely popular with viewers, suggesting the battle royal between digital media and broadcast may not be as contentious as it appears on the surface, Wolff says.
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