TV confirmed it is to make a move into pay-TV as it announced a pre-tax profit of £97m for the first half of the year.
The broadcaster said it has reached an agreement with Sky to make HD versions of ITV2, ITV3 and ITV4.
The new channels will be available from the autumn as part of the Sky+HD subscription package.
Announcing the move, ITV
chief executive Adam Crozier said: "Building new revenue streams by
exploiting our content across multiple platforms is a key part of the
ITV transformation plan announced today.
"Pay television has seen continual growth over the last decade and
this deal is a great example of how a new, subscription-based launch can
complement ITV's existing free-to-air channels."
The highly-anticipated move came as ITV celebrated an 18% rise in net
advertising revenues, boosting profit for the six months to the end of
June to £97m.
The figures represented a marked improvement on the £105m loss ITV made in the same period last year.
But the broadcaster expects ad revenue growth to ease to 15% in the
current quarter and warned that economic uncertainty made it "cautious"
about the outlook for the fourth quarter and for 2011.
Furthermore, Mr Crozier said his five-year transformation plan would
bring necessary changes to ITV's strategy, management, culture and
"The good financial performance we have reported today has enabled us
to reduce our debt significantly but does not disguise the underlying
challenges we face," he said.
"We are under no illusion that ITV needs to change substantially.
"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."
Seriously now, who the fuck would pay to watch any single one of ITV's coma inducing rubbish..?And its not even ITV1 (yet) its ITV2, ITV3 and ITV4..
Good luck with that..