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ITV, BBC team ‘BritBox’ streaming service

BARCELONA (Reuters) – British broadcaster ITV is to work with publicly-funded rival the BBC “BritBox”, a BRITISH rival subscription streaming service Netflix.

A company sign is shown outside of ITV studios in London, great Britain 27 July 2016. REUTERS/Neil Hall

ITV Chief Executive Carolyn McCall said on Wednesday the partnership, which is near to be closed, do you want a new video-on-demand offerings on the British public.

“This will provide an unparalleled collection of the British boxsets and original series in one place,” she said.

“We expect that other partners will be added to BritBox and we speak to the regulators and the whole industry about our proposals.”

The service, which will launch in the second half of the year 2019, will be competitively priced, the two companies said, without giving details.

The BBC, which is funded by a licence fee paid by all TV-watching Britons, and ITV are already working together on a streaming service, also known as BritBox, in North America.

BBC Director-General Tony Hall said the new service would provide home-grown content to the audience that loved the best.

“The service will have all of the old favorites, recent shows and new commissions,” he said.

He said that research has shown viewers embraced streaming and would be willing to add the service to the current subscriptions, such as Netflix, Amazon Prime and Sky.

The BBC and ITV, there are already a limited supply of programs through free streaming services iPlayer and ITV Hub, respectively.

ITV, the broadcaster of soap opera “Coronation Street” and reality show “Love Island”, announced the tie-up, together with the 2018 results which saw adjusted profit falls 4 percent to 810 million pounds ($1.1 billion), slightly higher than the forecasts of Citi analysts.

He said it was running strong on the screen, but the economic and political uncertainty in Britain would cause the advertising revenue for the first four months of 2019 to fall by 3-4 percent.

The ad revenue for March, the month in which Britain is due to leave the European Union, a decrease of 17 per cent, ITV said, that is not as bad as the 20 percent drop some analysts had predicted.

April was the prediction of between 6 percent and 10 percent, partly due to the timing of Easter, was added.

ITV shares were down nearly 2 percent in early trading.

Reporting by Paul Sandle; Editing by Jason Neely and Mark Potter

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