ITV (LON:ITV) has moved into the pay-TV market with the launch of its first pay channel on Sky.
The Downton Abbey and X Factor broadcaster is launching ‘ITV Encore’, its first new channel for eight years, as part of a four-year deal with rival Sky.
The new channel will host some of ITV’s most popular drama series and from 2015 it will screen original ITV productions.
The company, led by boss Adam Crozier, is cutting down its reliance on advertising revenues on free-to-air television.
It is already charging to view certain shows on demand.
“A key part of our strategy is to become the most watched, most loved and most talked about family of free and pay channels for every household and every advertiser in the UK,” said Crozier.
“ITV Encore is right in line with our strategy of growing non-advertising revenues while at the same time creating even greater opportunities to showcase new drama.”
The shares rose 1.6% to 199.8p and have risen 76% in the past year.