ITV is considering launching a micropayment system online and hopes that it will be able to charge a small amount for some of the content that will become available via Project Canvas. Project Canvas is the BBC venture that will offer video on demand to those who use Freesat and Freeview services.
ITV chief executive, Adam Crozier, stated that the network broadcaster is not trying to use its weight to unfairly charge consumers and that financially the station is only making as much as Channel 4 even though they are known to earn more television revenues.
Crozier went on to explain that ITV is not able to compete because it is behind in functionality and terms of revenue and thus they need to find a new way to invest online due to the fact that their website is not as great as other broadcasters. Thus, if micropayments were added the company could start to profit from their online presence.
He also announced that the company has set aside a three year investment fund that totals £75m and will be used to develop the website. The website is planned to be renovated before Project Canvas is launched which is due to happen towards the middle of 2011 since the launch of the project will make the ITV website a landing point.
Crozier added that Project Canvas is going to play a large role in the future of ITV and the company needs to make sure that ITV.com and the project are linked properly in order to get the most out of the joint venture.
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