Shopping, songs, TV, transport … new tech has many sectors in disarray

Netflix has helped change the way we watch television and film, further weakening our reliance on traditional TV schedules and providing a cheaper alternative to a cinema trip. It invested massively in shows such as The Crown, Stranger Things and House of Cards to drive subscriber growth. It is now spending money on locking in talent, including Grey's Anatomy creator Shonda Rhimes and Ryan Murphy, the producer behind American Horror Story, to try to ensure its supply of high-quality content. This comes at a cost: content, marketing and other expenses are thought to have exceeded subscriber revenue by at least $3bn last year. Net debt was $8.34bn at the end of September.