ITV, Channel 4 and Sky plot fightback against streaming giants
The broadcasters have agreed to a new tie-up that will pool their available ad space to allow brands to run campaigns across all of their on-demand and streaming services.
Bosses said the move was aimed at boosting ad revenues by attracting small and medium-sized businesses that previously had not advertised on TV.
This forms part of a battle to rebuild their finances after the rise of streaming splintered audiences and hit traditional advertising revenues.
Streaming services such as Netflix and Disney have also rolled out cheaper, ad-funded tiers that will increase competition for advertising space with commercial channels.
However, there are signs that investment in streaming is beginning to pay off for traditional channels.
ITV's ad revenue ticked up 2pc last year, boosted by 15pc growth in digital advertising. Channel 4's digital ad revenues also rose 9pc thanks to record streaming views, offsetting a decline in linear advertising.
Nevertheless, the growing threat from streaming services has sparked calls for mergers between British broadcasters.
Supporters say consolidation would give traditional TV the scale required to compete with deep-pocketed US rivals.
Alex Mahon, the outgoing boss of Channel 4, has pushed back against the idea of mergers.
However, she has called for more collaboration between the rival broadcasters, citing the example of Freely, a streaming joint venture the channel runs alongside the BBC, ITV and Channel 5.
The advertising tie-up could pave the way for a more structural tie-up between the commercial broadcasters, which each run their own ad sales houses.
The channels said they are in discussions to simplify the process of buying ad inventory for media agencies, including a potential joint venture based on ITV's Planet V ad platform.
The new ad deal, which is slated to launch in 2026, will use Sky owner Comcast's ad buying platform.
Priya Dogra, Sky's head of advertising, said: 'In today's fast-evolving media landscape, we strongly believe success will require collaboration, simplification and innovation.
'In partnership with ITV and Channel 4, and following the successful US launch of Comcast's Universal Ads platform, we are excited to bring this to the UK and with it, the opportunity to open up TV advertising to new brands.'
Kelly Williams, of ITV, added: 'As a TV industry, it is important that we collaborate to make television easy to plan, buy and measure for our established customers as well as the huge potential of new to TV brands.'
Rak Patel, of Channel 4, said: 'This marketplace underlines what sets TV apart from all other media: its ability to collaborate at scale.'
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