ITV executive chairman Michael Grade has labelled YouTube a “parasite” that lives off the TV shows and content created from the broadcaster’s £1 billion (E1.256bn) But Grade said he did not consider the rise of technology companies such as Google, which owns YouTube, to be a threat to ITV. “The day that Google or Joost or any of these people start investing £1 billion a year in UK content is the day I’ll start to be worried. They’re all parasites, they just live off our content is what they do. As long as we can create the content, the content is the keys to the castle for us going forward.”

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