It's getting cheaper and cheaper to build a Netflix but content creation isn't getting significantly cheaper.
Instead of looking for new talent, they continue to over pay veterans who continue to have flops after flops, of the top my head I can think of Jennifer Anistons and Nicolas Cage and a quick google search: http://www.radaronline.com/exclusives/2010/12/rupert-everett... http://www.dailymail.co.uk/tvshowbiz/article-1165345/King-mo...
So the problem is the big studios and the major record labels are content with the status quo have access to major promotional channels. Promotion is still very expensive. Even on Youtube where some indie content creators can thrive, the big players still dominate.
The finale of a popular show was shot using the Canon 5Dmkii. A camera many amateurs are using to capture their content. There are some stories that are best told with the big tech and budget of major studios, but like I mentioned, in most cases, the cost of promotion and over paying for hyped talent is keeping everything they do very expensive.