Sky is preparing to launch its new Sky Q service, which blends live and on-demand TV, in order to give services such as Netflix a run for their money, according to BBC News. With the ability to utilize Ultra HD 4K and the option to watch up to five programs at once on separate screens, the service aims to give users "a new way to watch TV."

"We wanted to re-imagine TV so that it's flexible and seamless across different screens and to put a huge choice of entertainment at their fingertips," said Jeremy Darroch, Sky's chief executive.

Sky's new service attempts to hone in on the new generation of TV watchers that take advantage of smartphones, tablets and on-demand viewing, according to Engadget.

"Sky customers watch 20% of programs on connected devices and Sky Q is squarely targeted at the most demanding of this on-demand generation," said David Mercer, principal analyst at research firm Strategy Analytics.

Sky Q's design is in the form of a 4K-ready set-top box, which acts as the hub that connects your television, tablets and phones, along with the optional secondary multi-room boxes that act as both mini streamers and Wi-Fi hubs and extenders, according to TechRadar.

Sky Q will be available in 2016, although the price for the service has yet to be announced.