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The project, currently titled Kangaroo, will focus on developing a new platform through which users will be able to download or stream over 10,000 hours of programming to their PC. Content will either be freely available or charged under a rental or purchase deal.

The broadcasters say the service will complement, but not replace the BBC's iPlayer. Similarly ITV will continue

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to offer a 30 day catch-up service on its website, though Channel 4's 4oD service will merge into the new platform.

"TV on the internet is a rapidly growing medium as proven by the incredible success that Channel 4 has enjoyed with its 4oD service," says Andy Duncan, Channel 4 chief executive.

"We want to continue to build and innovate in this area, giving viewers ultimate control over what they watch and when they watch it, and believe that partnering and sharing expertise is the best way of doing this."

"This is a historic partnership between the UK's largest broadcasters," says John Smith, chief executive officer of BBC Worldwide.

"For some time we have wanted to form an alliance with other rights holders in the UK and give viewers an on-demand service with real added value."

"The new service will contain some of the very best of the UK's content for consumers to view in one place, which will be both easy to use and great fun."