Barclays has announced it has doubled its SVoD fund to support UK TV producers to £200 million.
The initial £100 million fund, launched in March 2017, was the first of its kind launched by a major UK bank.
The decision to double the fund comes after what Barclays describes as exceptional demand from production companies, with more than £100 million allocated to various projects in the past 18 months.
These projects include £17.5 million to Drama Republic for the BBC/Netflix co-production Black Earth Rising, and funding for a series of Octonauts specials for Silvergate Media.
Lorraine Ruckstuhl, head of media at Barclays Corporate Banking, said: “With more SVoD platforms on the way and a growing focus on original content, demand is set to increase further and finance providers will have to keep innovating to meet changing funding requirements.
“We’re demonstrating our commitment to help the UK’s production companies make more world-class programming by doubling our SVoD fund and will also develop new financing options for the sector as the industry continues to evolve,” she added.