ITV has exclusively won the right to screen the Royal Variety Performance, ending almost 50 years of shared broadcasting with the BBC.

The move will see the Royal Variety Performance now being shown on ITV for the next 10 years, until 2021.

ITV has also secured the exclusive production rights, which were also handled on an alternating basis with the BBC.

ITV won the rights from the Entertainment Artistes’ Benevolent Fund (EABF), which benefits the annual fundraising event.

“We can look forward to the future with renewed confidence and financial security for the next 10 years,” said Laurie Mansfield, the EABF’s honorary life president.

The deal also strengthens relations between the EABF and ITV, which currently provides the winner of Britain’s Got Talent to the event each year.

ITV Studios managing direction Kevin Lygo said: “It’s an honour for ITV Studios to produce coverage of one of the most prestigious television events of the year.

“We are thrilled to be part of the long tradition of celebrating the very best of the entertainment industry.”