Hong Kong – TVB is launching a news app in the third quarter this year to increase its mobile presence and mobile ad revenue.

The company, which reported an interim profit of HK$850 million for the first half of 2012, recently began monetising its myTV mobile platform through in-stream video ads.

According to the company, ad revenue grew by 54% for the first half of 2012 compared to the same period last year. This increase is largely attributed to in-stream video ads, wallpaper ads and first-fold banner ads on key web spaces like the TVB home page. The company expects its mobile advertising revenue share to further increase in the second half of the year.