BritBox is set to launch later this year and is a landmark venture for the two broadcasters.
ITV and BBC announce milestone agreement for streaming service
- Alongside rumours of activist interest and outright bids, ITV are set to launch a brand new streaming service.
- ITV has been fighting hard to maximise its audience share.
- Shares are up 1.3% on the news however this could be due to circulating rumours.
Ahead of results next week, ITV have announced additional details of its joint venture with the BBC which will see the launch of streaming service BritBox. This comes at a time when rumours of interest in the group from activist investors or possibility of an outright bid are circulating.
As expected, the launch in the UK will be in the fourth quarter, with the all-important price being £5.99 per month. In the lead up to this there will be a high-profile marketing campaign. With a myriad of options now available to consumers, ITV has had to fight hard to maximise its audience share allied to pressure on advertising rates.
The strategic refresh earlier in the year has done little to boost its share price, with the shares close to a 6 year low. This reflects on the concerns and the thinking that it does not have the clout to compete with the likes of Netflix. Shares are up 1.3% although this could be more to do with aforementioned rumours.
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