BBC Studios has purchased full ownership of digital subscription streaming service BritBox International, acquiring ITV’s 50% share for A$494 million.
As part of the transaction, BBC Studios confirmed that it has extended its licensing agreements with ITV, ensuring that programming for BritBox International will continue to represent a wide range of British content.
“This is an important acquisition for us. We are taking full ownership of a successful, growing service we know well and that fits with our stated ambition to double the size of our business. Britbox International has British content at its heart and it generates and satisfies demand for British shows outside the UK. We will continue to make significant investments in the future to deliver long term value to the BBC,” said Tom Fussell, BBC Studios CEO.
Carolyn McCall, ITV CEO said: “The sale of 50% of BritBox International means ITV is focused on its core strategic goals of continuing to build on ITVX’s success and growing ITV Studios.”
BritBox International will become part of BBC Studios’ Global Media and Streaming division, complementing its expanding portfolio of digital and direct-to-consumer services that includes BBC.com, BBC Select, the BBC’s premium ad-free documentary streaming service in North America and BBC Podcast Premium, an audio service available in more than 160 countries.
“I am thrilled to further our involvement in BritBox International – it’s a profitable business and a winning proposition. We see tremendous opportunity to grow this unique service and take it to even greater heights for its subscribers, with the full power of the BBC behind it,” said Rebecca Glashow, BBC Studios Global Media & Streaming CEO.
BBC Studios confirmed that new leadership plans are in place to ensure a smooth transition, and are to be announced imminently.
ITV BBCS launched BritBox International in 2018, which currently has 3.75 million subscribers and is available in eight countries.
