The traditional broadcasting model took a fresh hit this morning: Netflix announced another original programming deal.
according to MarketWatch.
Netflix shares, already on a tear, rose 6% this morning to $229.
Online streaming companies such as Netflix, Amazon and Hulu, and even chipmaker Intel, are spending heavily on content as they fight for a piece of the fast-growing market for movies and TV shows delivered over the Internet, according to Reuters.
Netflix, the industry's pioneer, is counting on winning new subscribers by offering original series such as the Kevin Spacey drama House of Cards.
In addition, the company brought back the cult TV comedy series Arrested Development in May and allowed viewers to see each 15-episode in one sitting, harnessing the trend of viewers binge-watching TV series online and through DVDs.
Last week, Gannett said it would pay $2.2 billion, including the assumption of debt, for TV company Belo Corp.
GCI's stock fell 19 cents in early afternoon trading, to $24.79.
Related: TV networks face falling ratings and new rivals.