The ITV-BBC Studios joint venture BritBox will invest $17.7 million in the streaming service in Australia over the next three years.
The UK commercial broadcaster revealed the figure in a stock exchange filing, noting the two partners will equally fund the service which is due to launch in the spring.
The advertising-free subscription platform initially launched in the US, offering boxsets of classic British shows, before rolling out in Canada in 2018 and the UK last year.
In July Moira Hogan was named as the country manager, joining from Network 10, where she was head of content and commercial partnerships, responsible for the delivery of digital content, editorial and commercial partnership strategy for 10 Play. Previously she was general manager of content partnerships at Telstra Media.
Richard Hill was appointed head of launch marketing and PR, joining BritBox from SBS, where he was digital strategy lead.
The pricing, start date and distribution arrangements are yet to be revealed, but BBC Studios said the content will be curated especially for the local market and will offer a mix of exclusive and non-exclusive British content, including classic and contemporary boxsets.
In the UK, the service – which airs such shows as Broadchurch, Call the Midwife, Poldark, The Office, Death in Paradise, Doctor Who, Downton Abbey and Wolf Hall – costs £5.99 (A$11.65) per month.
ITV’s share of total joint venture losses/profits will be recognised within results from its joint ventures and associates.