Is It Time to Say Good-Bye to Traditional Television?

Forget securing television shows and movies from content providers like Time Warner (NYSE:TWX) or Sony (NYSE:SNE), streaming-video providers from Netflix (NASDAQ:NFLX) to Hulu (CMCAA) to YouTube (NASDAQ:GOOG) to Amazon (NASDAQ:AMZN) are beginning to produce their own content.

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In an interview with Netflix Chief Executive Officer Reed Hastings, published in GQ’s February edition, Chief Content Officer Ted Sarandos outlined how the company plans to expand its content offerings. He told the publication that Netflix has set a goal of creating five new shows per year. He currently has $300 million in his budget, which has enabled the streaming-video provider to create its first original programming lineup: House of Cards, Orange Is the New Black, Hemlock Grove, a second season of Lilyhammer, and the fourth season of Arrested Development. The first show, House of Cards, is set to debut on February 1.

But Amazon has matched Netflix step for step; the company announced additions to its original video schedule Thursday morning. The five new shows will be aimed at children and join the six comedy pilots Amazon approved last December. Creative Galaxy developed by Blue’s Clues creator Angela Santomero and Teeny Tiny Dogs produced by The Jim Henson Company are among the lineup.