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."