BritBox will be priced at £5.99 a month when it launches in the UK later this year, the BBC and ITV have said.
The streaming subscription service will launch some time between October and December.
ITV chief executive Carolyn McCall called the agreement to launch BritBox "a milestone moment".
BBC Director General Tony Hall said: "I am really excited about the new shows it will commission. With a remit to be daring and different, many future classics will be commissioned and live on BritBox for the future."