BritBox, the streaming service set up by ITV and the BBC, will launch in the fourth quarter and be priced at £5.99 a month in high-definition.
The details have emerged as the two broadcasters have signed an agreement on the platform, which they are calling a "bold, new step for ITV and BBC as they seek to work together to offer something fresh and distinctive to the public".
TV broadcasters have been under increasing pressure from subscription streaming services including Netflix and Amazon Prime Video, both of which are also priced at £5.99 for a basic package.
ITV and the BBC announced today that they plan to launch a "high-profile" marketing campaign and analyse the best way to "connect viewers between BritBox, ITV Hub and BBC iPlayer as they search for the content they wish to view".
BritBox will be co-branded by ITV and the BBC; and, as ITV chief executive Dame Carolyn McCall has said before, the platform will be advertising-free.
McCall added: "The agreement to launch BritBox is a milestone moment. Subscription video-on-demand is increasingly popular with consumers, who love being able to watch what they want when they want to watch it. They are also happy to pay for this ease of access to quality content and so BritBox is tapping into this, and a new revenue stream for UK public-service broadcasters.
"ITV and BBC have made, and continue to make, the programmes that both reflect and shape British culture and creativity. We now look forward to working together to launch the largest collection of British boxsets ever – bringing the very best in past, present and future British programming and award-winning content to viewers all in one place."
The broadcasters aim to make past and present shows available on the platform, such as Love Island, Famalam, Cleaning Up, Gentleman Jack, Gavin & Stacey, Victoria, Happy Valley, Broadchurch, Les Miserables, The Office and Benidorm.
They will also commission new British content for the platform, with the first show expected to launch next year.
BBC director-general Tony Hall said: "With a remit to be daring and different, many future classics will be commissioned and live on BritBox for the future."