LONDON — ITV says it is in the final phase of discussions with the BBC to create a new on-demand video platform to rival the likes of Netflix.

Chief Executive Carolyn McCall says the service, to be called BritBox, will provide a home for British-made video, offering an unrivaled collection of television box sets and original series in one place. She says ITV and the BBC have a "joint vision" for the service and are working on a formal agreement.

McCall says she anticipates "that other partners will be added to BritBox, and we will both speak to regulators and the wider industry about our proposals."

ITV, a free-to-air British network, plans to invest up to 25 million pounds ($33 million) in BritBox this year and about 40 million pounds in 2020.