A bullish call on television advertising made by Seven West Media has media investors hopeful that a prolonged slump has ended amid rapid growth in streaming viewership and digital news readership.

Shares in the Stokes family’s broadcasting and publishing empire, and its biggest rival, Nine Entertainment, jumped 6 per cent and 12 per cent respectively on Tuesday after Seven West executives said on a call that there had been “broader buoyancy” in the advertising market since January.