Proactive Investors - A host of broadcasters have clubbed together to announce a new free streaming service offering live scheduled shows.
ITV (LON:ITV), The BBC, Channel 4 and Channel 5 will release the service, dubbed Freely, next year, ensuring free-to-air channels are still accessible as people switch to streamed television.
“As more and more UK households use internet-connected TVs, it’s critical that the public service broadcaster channels remain available,” ITV chief executive Carolyn McCall said.
Freeview platform operator Everyone TV, which is owned by the four broadcasters, will run the service,
This will be built into smart TVs, featuring alongside the likes of Netflix (NASDAQ:NFLX) and Apple (NASDAQ:AAPL) TV.
“This new collaboration enables the UK public to continue to get all of their favourite British TV channels, for free - just as Freeview did,” McCall continued.
According to regulator Ofcom, viewership of traditional satellite and terrestrial television has fallen by 25% since 2011 as streaming services have taken off.
A 68% drop marks an even more rapid decline in viewers between the ages of 16 and 24, meanwhile.
“Streaming TV is increasingly the new normal for audiences, particularly young viewers,” Channel 4 boss Alex Mahon added.
“It has never been more important for trusted public service broadcasters' content to be readily available to everyone, for free.”