The European Broadcasting Union has announced the creation of a new subsidiary Eurovision Services.
According to EBU director general Noel Curran, the rationale behind the decision is to give greater independence to the EBU's business arm is to enable it to grow in stature and value and "to continue to pioneer innovative media solutions across the value chain - from content production to broadcast services and distribution."
"Business services is a core field of activity for the EBU alongside Member services, and it is vital that it maintains and grows its position as the media industry’s premier producer and distributor of high-quality live news, sport and entertainment content, to better anticipate and meet the needs of all its stakeholders," added Curran.
Eurovision Services will be led by chief executive officer, Marco Tinnirello, who will report to a board of directors. It will be tasked with delivering live content to major media organisations, sports federations and their audiences, via both traditional channels or online and on demand services.
“The new structure copper-fastens our business arm’s position as the first choice media services provider but with a more agile framework to better serve our clients and EBU Members," said Tinnirello.
"Our new strategy will see us expand our portfolio of products and services in order to help our clients and EBU Members connect audiences with their content, and bring together our trusted ability to deliver new innovations."