Silicon Valley giants are unlikely to compete aggressively because of the costs, plus the content is time-limited and rights are sold on a geographical basis. “If you invest in high-end drama, it has got a longer shelf life and you can sell it worldwide” James said.

Talks will begin early next year between the BBC and the government on the licence fee settlement from 2022 to 2027. Claire said “That will set the stage for the BBC in scale and scope. They will try to redraw the map, even though there’s a charter protecting it [until 2027].”

Claire said “There has been a generational decline in legitimate sports subscriptions in the under-35s. That is caused a little bit by piracy, but mostly by the attractions of so many other attractive smartphone options.”

Douglas said “I don’t think governments feel they don’t need the media, but they see it as one among many options, while there was a time when [broadcasters and newspapers] were the only option." 

Tom said the popularity of The Crown would have informed Netflix’s decision to strike a deal with the couple. However, he said, “the Sussexes may imagine they will dictate the shows they want to make but Netflix will have a firm hand on the tiller."

Tom said “Streaming services want to own you for a period of time and have to prove to you they have something you want to watch in the seven to eight minutes most people are prepared to spend looking."

He added “The problem is, when people talk about library sizes, a lot of it is garbage. “I watched Lars Trier’s Nymphomaniac and suddenly got recommended softcore porn dug up from the bottom.”

“It’s very hard to make good TV shows, so you will get to the end of stuff that you’ve heard about, want to watch and is good sooner than you think.”