Magazine article Screen International

Barclays Reveals £100M UK TV Fund

Magazine article Screen International

Barclays Reveals £100M UK TV Fund

Article excerpt

British bank Barclays has launched a £100m fund aimed at UK TV production companies.

The fund has been established to directly target producers making content for SVoD platforms such as Netflix and Amazon, whose repayments can be staggered.

According to Barclays, the fund, Barclays SVoD Financing, will help companies manage cashflow and sustain employment, and the bank has developed a bespoke loan structuring method for producers.

One of the first companies to use the fund is Roughcut Television, producers of BBC Three series Cuckoo and People Just Do Nothing as well as Sky comedy Trollied.

As part of that deal, the bank has purchased Roughcut's receivable as part of its SVoD deal with Netflix for Cuckoo, giving the company an upfront cash benefit as part of its multi-year streaming agreement.

Roughcut's commercial director Tim Sealey commented: "Netflix are notorious for paying over a long period, our arrangement with Barclays enabled us get access to the cash much earlier which meant that we could put it to work by investing in further development. …

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