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ITV Plunges After Revealing ‘ITVX’ Streaming Platform Investment

ITVX will offer a free advertising-funded service and an ad-free subscription option. 

ITVX will offer a free advertising-funded service and an ad-free subscription option. 

Source: ITV Plc.

ITV Plc shares plummeted as much as 18%, the most since the outbreak of the coronavirus pandemic, after Britain’s biggest free-to-air broadcaster announced it would pay to replace and upgrade its streaming services. 

The London-headquartered company revealed plans Thursday for ITVX, which will offer a free advertising-funded service and an ad-free subscription option. Later this year it will replace the company’s free ‘Hub’ digital video platform, which has faced some complaints for its quality in the past.