There are tremors rippling through the world of video on demand. Streaming giant Netflix revealed last week that it lost 130,000 US subscribers in the previous quarter; its shares have since fallen almost 15 per cent. Its slate of competitors is rapidly expanding.

Disney+ and the BBC-ITV joint service BritBox are set to launch this year, with others to follow. Their owners are clawing back their most popular content, with Netflix set to lose both The Office and Friends by 2021.

Expenditure on original content, already in the billions of dollars, will only grow as Netflix and others battle to

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