ITV ‘readies pay-TV move’

ITV has announced a move into pay television with an agreement to make ITV2 HD, ITV3 HD and ITV4 HD available on Sky.
Speaking at the publication of ITV’s Interim Results, Adam Crozier, Chief Executive of ITV, said:
“For the past decade ITV has not faced up to the challenges presented by the rise of internet-based platforms, the continuing growth of pay TV and subscription services and the globalisation of content.
“Re-shaping the economics of ITV will require changes not only to the strategy but also to ITV’s management, culture and organisation and to deliver this we are today announcing a five year Transformation Plan.
“Our priority for the next 18 months is to make ITV a creatively dynamic and fit for purpose organisation while maintaining strict financial controls.

We have made swift progress in putting together a very strong management team fully focussed on delivering a lean ITV that can create world class content, executed across multiple platforms and sold around the world. Over time we expect to move to a position whereby half of ITV’s revenue base will be derived from non-television advertising sources and today we are announcing our move into pay television with the agreement to make HD versions of ITV 2, 3 and 4 pay channels on Sky.” ITV also announced plans to launch ITV1+1 in Q1 2011.