Ant and Dec are to host their first podcast, as part of a new digital entertainment channel set up by the TV presenters.

The podcast, titled Hanging Out with Ant & Dec, will launch later this month and see the duo catch up about their lives and take questions and comments from listeners.

It is part of the pair’s new Belta Box brand, which will be on platforms including YouTube, Facebook, Instagram and TikTok, and will also host classic clips from their TV careers as well as “new digital formats”.

“We asked our audience if we did a podcast what would they like it be about, and they said ‘we just want you guys to hang out’,” Declan Donnelly said in a statement.

“So that’s what we’re doing – Ant & I don’t get to hang out as much as we used to, so it’s perfect for us.”

The pair recently signed a contract extension with ITV to continue presenting shows including I’m A Celebrity, Britain’s Got Talent and Limitless Win.

Their push for viewers on YouTube as well as TV will allow them to “have their cake and eat it”, said Alex Hudson, journalist and co-host of tech podcast Crashed.

“Ant and Dec have just extended their ITV contract by another three years while they try to get this company up and running,” he said.

“So they can take their rumoured £30m contract and, even if this new company doesn’t work out, will still be some of the best paid presenters in the industry.”

Hanging Out with Ant & Dec is set to release its first episode on Thursday 22 January, with further episodes every fortnight and bonus episodes every Monday.

While the pair are “late to the party” when it comes to podcasting, it comes at a time when the digital landscape is still rapidly expanding, Hudson said.

“The global market is estimated at around £25bn and is projected to reach nearly £100bn by the end of the decade.

“The British public already feels it has a relationship with them and this allows them to talk directly with audiences and develop a different business model.

“But it’s hard without the backing of traditional broadcasters and traditional advertising models, so they might struggle after the initial buzz dies down.”

Ant and Dec’s podcast is described as having “no script, no agenda, and no interruptions – it’s the duo catching up, reminiscing, and seeing where the conversation takes them”.

Viewers and listeners will have the power to shape the conversations each week, with the pair asking the audience to ask questions and share anecdotes.

Both the podcast and Belta Box are produced by Ant & Dec’s own company, Mitre Studios.

The Belta Box channel went live on YouTube on Friday with initial clips from the duo’s earlier TV series such as Byker Grove, SM:TV and Saturday Night Takeaway.

Ant McPartlin said launching the channel felt like a “natural next step” after the pair had “spent our whole careers celebrating great entertainment”.

The pair’s move to YouTube will be as beneficial to the video platform as it is to the Geordie TV duo, according to Hudson.

YouTube already dominates much of the short-form, creator-led and viral video market, he noted.

“What YouTube doesn’t dominate is the Netflix-style long-form TV viewing,” he continued. “When MrBeast wanted to produce more serious TV content, he chose Amazon Prime rather than sticking with just YouTube.

“YouTube wants to change that. Ant and Dec has to be part of that thinking.”

While the entertainment landscape has changed beyond recognition over the past two decades, major networks and on-screen talent are still figuring out how best to make money from streaming platforms.

Earlier this week, data from industry ratings body Barb suggested YouTube had overtaken the BBC for the first time at the end of last year in terms of monthly audience reach.

However, YouTube was only ahead on one metric, based on audiences who watch content on any platform for three minutes. The BBC remains ahead of YouTube for consumption of longer-form content.

On Friday, the Financial Times reported the BBC is gearing up to announce a new landmark content deal with YouTube, which will reportedly see the corporation make programmes for the platform for the first time.

The paper said the BBC would be able to generate more money from the move by showing advertising alongside the new programmes when shown outside the UK.

The BBC and YouTube have not commented on the rumoured deal.