The BBC has got the approval for the project, through which it would be able to meet the demand for internet TV. Project Canvas is the result of the joint venture of BBC, BT, ITV, Channel 4, Five and TalkTalk, to create the Internet Protocol Television hallmark.
After the extensive meetings and discussions, the governing body of BBC Trust made its final decision.
The trust will evaluate the involvement of BBC against the conditions of its agreement, 12 months after Canvas opens to consumers.
The service will provide a range of set-top boxes obtainable to access on demand TV services, such as ITV player and iPlayer. Project Director, Richard Halton expressed his happiness over the decision of Trust.
"This brings the benefits of next-generation TV to all consumers, including those who choose not to subscribe to pay-TV", Halton said.
The Trust also decided that Canvas would have sequences of optimistic impacts, which will include increase in the growth of on-demand TV.
People, who have broadband connections in their homes, will also be able to access a wide range of on-demand content including BBC iPlayer, which will be provided to them as free service.
However, the Trust has applied a number of conditions to the BBC's involvement in the project to determine the potential impacts on the market.