(NASDAQ:AMZN) just inked a huge deal with Viacom (NASDAQ:VIA) on a set of popular streaming content. One thing we know for sure is that Amazon paid more than Netflix (NASDAQ:NFLX) thought the content was worth, as Netflix passed on renewing its deal for these shows earlier this year.

The two companies are taking different tacks in their battle for streaming subscribers. Netflix is getting more choosy about the content it licenses so that it can focus spending on funding original shows. Meanwhile, Amazon is taking more of a shotgun approach -- buying everything that isn't nailed down.

In the following video, Fool contributor Demitrios Kalogeropoulos argues that Amazon's splashy spending is bad for both companies, as profits will be crimped by rising content costs. But content owners such as Viacom, Disney, and others stand to benefit the most from this expensive fight.

Fool contributor Demitrios Kalogeropoulos owns shares of Walt Disney and Netflix. The Motley Fool recommends and owns shares of, Netflix, and Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.