Last week, the communications regulator unveiled its second review of public service broadcasting. Three of its four main proposals for the future provision of PSB content stated that ITV1 would no longer face PSB obligations. Ofcom estimates that ITV1's PSB programming obligations, which include the provision of 287 hours of regional news content per year in England, total £140m per year at present, which it forecasts will fall to £45m in 2012.
Ofcom chief executive Ed Richards said: "For the first time ever, we ask whether, longer term, ITV should be part of public service broadcasting. It is a legitimate question. It is something for us to reflect upon."
ITV has already persuaded Ofcom to allow it to cut the number of hours of children's programming that ITV1 must air each week. ITV1's delivery of children's programmes ran at 10 hours a week in 2005, eight in 2006 and four last year. ITV1 no longer airs children's programming during daytime - a decision that has significantly boosted its commercial performance in daytime.
Should ITV be freed from its PSB obligations, media agencies suggest the broadcaster would be better served investing more in popular programming.
Paul Rowlinson, MindShare's investment director of audio and visual media, said: "There is a question of whether you need diversity on one channel. Being something for everyone is a bit outdated. You don't need to have lots of kids' programming on the main channel. Young audiences aren't going to come running back to ITV1."
Caroline Binfield, Arena BLM business director of television, said: "ITV's share of adult audiences has fallen. It is struggling to keep audiences up, and with these pressures its money would be better spent on improving programming for commercial audiences and fighting back against other ways of viewing, rather than fulfilling a public service remit."
Ofcom is consulting on its proposals, which could come into effect after the completion of digital switchover in 2012, until 19 June.
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