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ITV PLC (ITV) is a British integrated producer broadcaster (IPB), headquartered in London, United Kingdom. The group creates, owns and distributes high-quality content on multiple platforms globally, and owns 13 of the regional licenses and sells advertising on behalf of all licences, making it the largest family of commercial channels in the UK.
BBC is a UK based independent content provider. The British Broadcasting Corporation is focused on providing distinctive, word class content for millions of people worldwide to entertain and educate them.
Both the UK broadcasters had united to take on other content providers like Netflix with their joint streaming service called BritBox. Due to the difference in their priorities, both ITV and the BBC are in a face-off against each other. ITV had agreed to fund the project and will invest £65 million by the end of 2020.
BBC is currently prioritising its own platform and is looking forward to changing the rules which will extend programme availability from 30 days to a year on its iPlayer service. If the rule is successfully applied then the content will be available for free for a year before moving to the BritBox, a subscription-based service.
BBCâs iPlayer is proved more popular than ITV Hub as its already operating in the United States and having a subscriber base of over half a million thus the project is very crucial to ITV. The ITVâs market value had declined over a third in the last month and it is at its lowest level in six years.
ITV Plc Share Price Performance
Daily Chart as at May-28-19, before the market closed (Source: Thomson Reuters)Â Â
On 28th May 2019, at the time of writing (before the market closed, at GMT 03:34 PM), ITV Plc shares were trading at GBX 108.50, up by 0.42 per cent against the previous day closing price. Stock's 52 weeks High and Low is GBX 183.10/GBX 107.20. The company's stock beta was 1.08, reflecting slightly higher volatility as compared to the benchmark index. The outstanding market capitalisation was around £4.35 billion with a dividend yield of 7.40 per cent.
As per the CEO of ITV Plc, the company is in concluding stage of discussions with the BBC and will launch the platform this year in the UK. This will give ITV an opportunity to gain a 1 per cent share in the £6.3 billion pay-tv markets.
The company is having ambitions to become a leader of British content and is expected to spend £11.5 billion on content globally. The BritBox would not create much difference for the BBC in terms of revenue as they are having low expectations from the project. As per the statement released by ITV, stating that enthusiasm for the streaming service is on the higher side and is on track to deliver the project in the second half of the year. BritBox will become a success as believed by both the BBC and ITV. The UKâs other PSBs Channel 4 and Channel 5 were also in discussions with ITV to participation in the BritBox.
