BBC launching Britflix streaming service to go head-to-head with Netflix

While the BBC is planning to take on Netflix by building its own “Britflix” on-demand video streaming service, on the news front, it looks like the United Kingdom media giant is cutting back to shore up its funds and figure out a better way of competing against (or within!) Facebook.

Plans by the BBC to team up with ITV and possibly other broadcasters to set up a subscription streaming service have received encouragement from the government. The Telegraph notes that the service would be delivered using the BBC iPlayer, which is now used for both Hulu-esque catch-up viewing and live-streaming.

Currently, viewers who want to watch a BBC programme beyond the iPlayer window can choose to download it from the recently launched BBC Store.

Culture secretary John Whittingdale told the Telegraph: “We’re moving into a different world where more and more content is going to be made available on demand”.

The new site – which, nearly inevitably, has been dubbed “Britflix” – would be a rival to Netflix and Amazon Prime, and is one of many recent collaborations between broadcasters and production companies.

Dubbed Britflix, it will rival the likes of American owned streaming sites Netflix and Amazon.

“The internet requires the BBC to redefine itself, but not its mission: the BBC’s objective online is to provide a distinctive public service that informs, educates and entertains”, he said in a statement.

But in a quick rebound, Whittingdale says that BBC has officially requested to be allowed to create subscription-based models.

The channel has grown its production arm, ITV Studios, through a series of acquisitions which led to a revenue hike of a third a year ago to £1.2 billion ($1.7 billion) and a profit increase of 27% to £206 million ($294 million).

How much would you be willing to pay for a BBC subscription service?

Last summer, BBC introduced the global version of its iPlayer service that charged users subscription fee to view programs through an app in Western Europe, Australia and Canada.

The BBC and ITV are braced to launch a Netflix-style streaming service, having been given the green light from the government on the project.