Diller Says Hollywood Risks Getting Overtaken by Amazon, Netflix
- ‘Too much concentation is bad,’ the media mogul says
- Diller also sees sequel mania undermining the movie industry
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Billionaire media mogul Barry Diller said he worries that tech companies like Amazon.com Inc. and Netflix Inc. are consolidating power, threatening to undermine the way the entertainment industry works.
“I’ve always thought concentration -- too much concentration -- is bad,” he said in an interview airing Wednesday on “The David Rubenstein Show: Peer-to-Peer Conversations” on Bloomberg TV. Television programs and movies are turned into fuel for subscription services, rather than products in themselves, said the chairman of IAC/InterActiveCorp.