Transport for London (TfL) has launched its search for a new advertising partner in the hopes that this will generate venue to reinvest in its transport network. 

Overseeing the advertising space held by TfL and the development of new advertising technology could prove to be one of the largest opportunities in the sector. 

This comes as part of a wider commercial initiative from TfL to maximise its assets to generate £3.4 billion in non-fare revenue. 

Improved services will be offered for customers and users of the TfL service, as it will reinvest this revenue back into the transport network. 

Director of commercial development at TfL Graeme Craig said advertising is a central part of this plan. 

"We have huge footfall on a daily basis and the best assets in London, and are keen to find a partner who shares our ambitions," he commented, adding that commercial media will change radically over the coming years and he wants TfL at the forefront of that trend.