Upgraded to 16.04, 100% CPU usage when watching videos

I was ruing Ubuntu 14 with zero issues. After the upgrade my CPU periodically hits 100% when watching videos or doing graphical things. Netflix, local videos, graphical HTML5 programming, etc. Oddly, when I open the system monitor the CPU drops making it difficult to diagnose the problem. I usually see Chrome using ~14% CPU and everything else at 0%. The local video player uses ~4% CPU, same situation. If I pause the video for a while the CPU drops back to normal.

System details:
Ubuntu 16.04 LTS
Memory: 7.7 GiB
Processor: Intel® Core™ i7-3520M CPU @ 2.90GHz × 4
Graphics: Gallium 0.4 on AMD TURKS (DRM 2.43.0, LLVM 3.8.0) (Different from when I was using Ubuntu 14 I think?)
OS Type: 64-bit
Disk: 483.7 GB