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Barclays Corporate Banking has announced a doubling to £200 million ($256 million) of its fund to help British TV producers develop content for streaming services.
The £100 million ($128 million) fund was launched in March 2017 in “response to the rapidly evolving TV production landscape,” according to a statement, with the rise of subscription video-on-demand services such as Netflix and Amazon Prime Video “changing the way that original programming is financed.”
TV - Production - Loans - Content - Broadcaster
Conventional TV production loans are usually repaid as the content is delivered, with the broadcaster paying the production company and funder simultaneously. With SVOD, payment from the subscription service is often spread over a much longer term, which can present funding challenges, the bank said.
Projects that have benefited from Barclays support include £17.5 million ($22.4 million) to Drama Republic for the BBC/Netflix co-production “Black Earth Rising,” financing to Lime Pictures for the Netflix show “Free Rein,” and funding for a series of “Octonauts”...
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