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(Alliance News) - ITV PLC on Thursday announced an "enhanced strategic partnership" with STV PLC, extending content sharing and advertising arrangements between the two television broadcasters.
STV's streaming service, STV Player, will take exclusive Scottish rights for a range of programmes from ITV's streaming service, ITVX. The partnership is expected to encompass at least 100 hours of original content per year.
STV Chief Executive Officer Simon Pitts said: "This exciting new partnership significantly strengthens STV and ITV's digital businesses for the streaming age.
"It's great news for Scottish viewers who will be able to access a huge array of new UK original content for free on STV Player, starting today with the brilliant A Spy Among Friends starring Damian Lewis and Guy Pearce, followed by David Tennant in the gripping drama Litvinenko. Scottish advertisers will also benefit from a 'one stop shop' of mass audiences and the best in data-driven targeting," Pitts said.
As part of the agreement STV will join ITV's addressable advertising platform, Planet V. This will allow advertisers to access STV's inventory alongside ITV's "combination of mass simultaneous reach and data-driven, targeted advertising".
The new arrangement builds on STV and ITV's existing contractual relationships, which remain in place. Under these arrangements, ITV will continue to represent STV for linear national advertising and STV will continue to be responsible for all Scottish advertising.
STV Player will also continue to be available to viewers across the UK with its extensive library of third-party content.
ITV's Commercial Managing Director Kelly Williams said: "ITV and STV have been close partners for over 50 years and this new deal makes that partnership fit for the digital age. We are delighted to be able to offer the market for the first time, and in one place, the ability to buy the mass reach of linear advertising coupled with addressable streaming inventory across the entire UK ITV/STV network."
Shares in ITV were trading 0.7% lower at 75.28 pence each in London on Thursday afternoon. STV shares were up 0.9% at 260.32 pence each.
By Chris Dorrell, Alliance News reporter
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