London Live lives. The capital’s first 24 hour entertainment TV channel sprang to life yesterday at Advertising Week Europe. You’re probably aware of Advertising Week, unless you’ve had your eyes sewn shut and your fingers glued into your ears. If I glance at my Twitter feed it’s pretty much all I can see (speaking of Twitter and new launches, we launched this new study with them yesterday).
I love London Live living. Yes, they are a shiny new Associate Member of Thinkbox and so I really ought to like them a little bit, but they are also the latest symbol of the health of telly and how it is expanding.
London Live will showcase this lovely city, offering comedy, drama, live events, news and sport, culture and entertainment. Rightly, it doesn’t see itself as a ‘local’ TV station; that tag does sound absurd when talking about a channel that reaches a potential audience of around 5 million households.
Its owners are doing this properly. They have invested significantly in building their own studios, galleries, edit suites and creating the entire associated infrastructure required to deliver great broadcast TV. This is no toe in the water, but a well-prepared plunge in.
And they dive into TV’s warm waters at a very good time. Total TV advertising revenue in the UK increased by 3.5% last year to reach a new record high of £4.63 billion – the fourth consecutive year that TV ad revenue has grown in the UK. And 2014 looks set to be a healthy year too, with TV advertising investment forecast to grow again, boosted by the World Cup in Brazil (the boffins at the Advertising Association and Warc predict TV ad revenue to grow by 6% in 2014).
So, welcome to life, London Live, and good luck.