ITV is a bit of a clunker, and while the BBC should, perhaps, be the slower of the two broadcasters Aunty has proved, through iPlayer and its website, that it's capable of innovating quickly (for old school corporations, at least) and coming up with amazing products. Like the BBC or not, iPlayer is the best service of its kind in the world.
So ITV's plan is to kill off its website and ITV Player. They will then be buried, allowed to rot slightly, then reanimated as a monstrosity called "ITV Hub" which means less than nothing. "Oh, a hub, you say. Just like, erm, one of those, erm, other hubs". The only things in the world called hubs are used for networking, USB and sometimes a coffee shop within the headquarters of a national broadcaster.
It's not entirely clear what the new Hub will add to the experience. ITV player needs an overhaul though, like competing services from Channel 4, the quality of ITVs on-demand service is severely lacking. In this day and age we demand at least Netflix quality, and there are few reasons for ITV not to provide that.
ITV has a press release that goes into a lot of pointless detail about the flipping colour scheme while mentioning very little about the actual change to the services. Which goes nicely with their decision to call the thing "ITV Hub".