Barclays has launched a new £100 million fund for TV fund to help UK production companies meet the evolving needs of the SVoD sector.
The fund is the first of its kind launched by a major UK bank.
Barclays SVoD Financing has been created by the bank’s media team to provide better support for clients working in the on-demand video genre.
Conventional TV production loans are repaid as the content is delivered with the broadcaster paying the production company and funder simultaneously. With SVoD, revenues are often spread over a much longer term.
The product allows companies to borrow money over a longer period, enabling them to use the funds to develop more ideas and programmes.
One of the first production companies to benefit from the new fund is Roughcut Television, producers of Trollied, Cuckoo and People Just do Nothing.
Lorraine Ruckstuhl, head of media at Barclays Corporate Banking said: “The creative industries in the UK are world famous due to the range and quality of content they produce. The TV industry specifically is in a really exciting place and is evolving at pace, with more than 250,000 people in the UK employed in the sector.
“We’ve been supporting TV production with a dedicated media team for over 30 years, and know that to meet the needs of our clients we have to adapt with them and with the viewing habits of the public. That’s why we created this fund and developed Barclays SVoD Financing, to help UK SMEs continue to compete both in the UK and internationally, support increased employment, and create even more great programmes.”