22 September 1955: ITV’s inaugural broadcast

Until 1955, there wasn’t much choice of what to watch on British TV. You got one channel – the BBC.

But the Television Act 1954 changed all that. It authorised the creation of the first commercial television network in the UK, overseen by the Independent Television Authority.

Many people were worried that ‘commercial’ broadcasting would lead to a dramatic fall in standards. So, a requirement to produce quality programmes was included.

Six franchises were put out to tender. And at 7.15pm on 22 September, Associated-Rediffusion – which had been awarded the London weekday franchise – began broadcasting.

The first thing to air was a five-minute introductory film (which you can see below); then it was off to London’s Guildhall, where viewers were treated to a gala evening of live variety entertainment.

Just under an hour later, Britain’s first TV advert was aired – for Gibbs SR toothpaste.

After ten years, the regional franchises came  up for renewal. Just one was not re-awarded to the existing franchisee – Wales West and North was taken over by Television Wales and West.

In 1968, there was a big reorganisation of the franchises, which saw Thames TV and London Weekend come into being.

In 1990, the requirement to produce quality TV was done away with in the franchising process, and franchises were effectively handed to the highest bidder. A year later, Thames TV was outbid by Carlton, which offered £43m for its licence.

Ownership regulations were relaxed in 1994, ushering in the first wave of consolidation in the industry. Three years later, a second wave of mergers left three major players – Carlton, United News and Media, and Granada.

By 2000, just Granada and Carlton remained. They merged in 2004 to form ITV plc in a £4bn deal, leaving one company in control of all the franchises in England and Wales.

• My colleague Phil Oakley tipped ITV back in 2012, when the share price was just 87p. It’s currently at around 214p.

Also on this day

22 September 1910: Brighton’s Duke of York’s Picturehouse opens

Sea, sunshine and cinema – the Duke of York’s Picturehouse in Brighton was opened by Violet Melnotte-Wyatt on this day in 1910, and it’s still in business today. Read more here.