New research from Informa Telecoms & Media has found that the long-held potential of central and eastern European TV markets is now being realized with significant revenue growth in the region.

In its report 'Eastern European TV (12th edition)' Informa reveals the region's pay TV sector was worth US $5.6 billion in 2007, but is expected to more than double to US $12 billion by 2013. If advertising revenues are added to the equation, the market will be worth more than US $23 billion in 2013.

The region is also making good progress in upgrading its broadcast networks to support digital TV. The current figure of 22 million digital homes is expected to rise to 35.7 million by 2013, with Poland and Russia showing some of the strongest growth.

"Digital satellite has led the way so far, with cable slower off the marks towards digital conversion. But with IPTV making some inroads in the region, there is evidence of cable now looking to upgrade with greater urgency," said Adam Thomas, the report's author.

He added: "Countries of central and eastern Europe already offer a wide range of attractive opportunities for international TV players and investors. And this positive environment will only get better, with a period of extensive merger and acquisition activity expected over the next few years."