ITV invests $1 billion on new SVOD platform

ITV has collaborated with leading technology companies, Hollywood studios, Wall Street banks, independent studios, and strategic partners in raising $1 billion for a new SVOD platform. The main objective is to bring back an ambitious new online video streaming service for mobile users. The new video streaming platform, NewTV has been built for easy and on-the-go mobile viewing.

Meg Whitman, CEO, NewTV quoted, “More so than ever, people want easy access to the highest quality entertainment that fits perfectly into their busy, on-the-go lifestyles. With NewTV, we’ll give consumers a user-friendly platform, built for mobile, that delivers the best stories, created by the world’s top talent, allowing users to make the most of every moment of their day.”