The project, which counts the BBC, ITV, Channel 4, Five, Arqiva, TalkTalk and BT as it members, aims to upgrade the Freeview and Freesat platforms to support video on-demand and internet services.
According to The Inquirer, ITV controller of strategy Simon Pitts said that the project has identified its core market to be internet users who want subscription-free television.
"We already have a target market. Freeview and Freesat upgraders who already predominantly have broadband [but] don't want to pay for television. Between six and seven million homes fall into that category at the moment," said Pitts.
"For Canvas to be successful it needs to be as open a platform as possible. Open in every sense - to ISPs, content providers and manufacturers."
Last week, it emerged that the Canvas partners have registered the branding YouView, which is believed to be a hybrid of YouTube and Freeview, for the forthcoming platform.
The project, which was recently cleared from constituting a qualifying merger by the Office Of Fair Trading, is currently awaiting final approval from the Trust.
Pitts said that if the approval comes through at the end of June, then the project could look to start negotiations with content partners as early as September.
The project partners have already published a range of technical specifications for Canvas on the Digital Television Group's website for use by industry stakeholders.
Bob Hannent, chief technologist at set top box manufacturer Humax, said that the Canvas platform will seamlessly blend TV and internet services.
"This is what I love about Canvas. This is why I think Canvas separates itself from other hybrid architectures that are about," he said.