YouTube Rivals Netflix with Buy of Big-Budget TV Series

New York Times: YouTube Red, the Google-owned paid streaming service, has acquired its first big-budget, Hollywood-produced television drama, moving it into more direct competition with players like Netflix. The scripted series will be based on “Step Up,” the Lionsgate-controlled dance movie franchise that started Channing Tatum’s acting career and has taken in more than $650 million at the worldwide box office.