Thinkbox today announced that London Live, the first 24 hour entertainment channel devoted to the Capital which launches on 31 March, is joining the organisation as an Associate Member. It joins Thinkbox’s other Associate Members, Virgin Media and RTL Group. Associate membership entails consultation and involvement across Thinkbox activities and with Thinkbox’s working groups.
“We’re delighted to welcome London Live on board as an Associate Member,” says Lindsey Clay, Thinkbox’s Chief Executive. “It’s great that they want to join us and support us in our mission. We’re looking forward to working with them and our shareholders to continue helping advertisers in the UK and beyond make the most of all the new opportunities in commercial TV.”
Thinkbox’s shareholders are Channel 4, ITV, Sky Media, Turner Media Innovations and UKTV. Thinkbox represents over 90% of the commercial TV market in the UK through its shareholders’ owned and partner channels.
Total TV advertising revenue in the UK increased by 3.5% in 2013 to reach a new record high of £4.63 billion, according to full year revenue figures provided to Thinkbox by the UK commercial TV broadcasters. This is the fourth consecutive year that TV ad revenue has grown in the UK. The figures represent all the money invested by advertisers in commercial TV: linear spot and sponsorship, Broadcaster VOD, and product placement.
TV advertising investment is forecast to grow again in 2014, boosted by the World Cup in Brazil. The Advertising Association/Warc predicts TV ad revenue to grow by 6% in 2014