The UK’s biggest two broadcasters are to launch a rival to online streaming service Netflix.
ITV and the BBC are teaming up to launch ‘BritBox’ and hope to add further broadcasters to the product in due course.
ITV chief executive Carolyn McCall said would “provide an unrivalled collection of British boxsets and original series in one place”.
“We anticipate that other partners will be added to BritBox and we will both speak to regulators and the wider industry about our proposals,” she added in a statement to the London Stock Exchange.
The broadcasters are already working together on a streaming service, also called BritBox, in North America.
BBC Director General Tony Hall said: “The service will have everything from old favourites to recent shows and brand new commissions.”
ITV also announced a 36 per cent increase in online advertising revenue in 2018, which offset the decline in TV spot advertising, alongside a 32 per cent increase in online viewing.
“ITV’s operational performance across 2018 was strong despite the uncertain economic and political environment, with total external revenue up three per cent, including total advertising revenues up one per cent,” said McCall.
“We delivered great viewing figures on air and online with ITV setting a host of new records and achieving an impressive three per cent growth in total viewing.
“ITV is making good progress as we invest in our ‘More than TV’ strategy – repositioning the ITV brand, developing our data and digital capabilities, increasing our ability to offer addressable advertising and expanding our direct to consumer activities.”