×

Barclays Sets Up $125 Million Fund for Shows on Streaming Platforms

Roughcut, which produces 'Cuckoo,' is one of the first companies to benefit from the fund

British bank Barclays has launched a £100 million ($125 million) fund to help TV production companies compete for orders from video-streaming platforms, such as Netflix and Amazon.

The rise in popularity of subscription video-on-demand services prompted Barclays to consider “how it could improve the types of funding provided to better support its TV clients,” according to a statement. “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, which can present funding challenges.”

Barclays has adapted its loan structures to “more closely match the funding requirements of companies working with SVOD distributors,” the company said. “The product allows these companies to borrow money over a longer period, enabling them to use the funds to develop more ideas and programs, which in turn supports more sustained employment and helps them to grow more quickly.”

Lorraine Ruckstuhl, head of media at Barclays Corporate Banking, said: “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 U.K. SMEs [small and medium-sized enterprises] continue to compete both in the U.K. and internationally, support increased employment, and create even more great programs.”

One of the first companies to benefit from the new fund is Roughcut Television, which has produced comedy shows such as BAFTA-nominated “Cuckoo,” “Trollied” and “People Just Do Nothing.” The new funding through Barclays “involved the bank purchasing Roughcut’s Netflix receivable, giving the company the upfront cash benefit” of the multi-year contract for the streaming of “Cuckoo.”

“Netflix [is] notorious for paying over a long period,” Roughcut’s commercial director Tim Sealey said. “Our arrangement with Barclays enabled us to get access to the cash much earlier, which meant that we could put it to work by investing in further development. Another side benefit is that it improves our relationship with the writers and artists as they get their royalties quicker, too.”

More TV

  • Variety Cord Cutting Placeholder Cable

    CBS Stations Go Dark on AT&T's DirecTV, U-verse Platforms Amid Contract Battle

    CBS’ 28 O&O stations are going dark for about 6.6 million subscribers of AT&T’s DirecTV and U-verse platforms as the Eye and AT&T battle over a new retransmission consent contract. The blackout affects CBS and CW-affiliated stations in 14 major markets including New York, Los Angeles and Chicago. Also off the air are the CBS [...]

  • Orlando Bloom Comic Con Immigrant San

    Orlando Bloom Claims San Diego Mayor Ran From Comic-Con Exhibit Featuring Immigrant Characters

    Did an immigration storyline cause Republican San Diego Mayor Kevin Faulconer to run out of Amazon Prime Video’s Comic-Con activation this week? According to “Carnival Row” star Orlando Bloom, that’s exactly what happened. At Amazon’s “Carnival Row” panel, Bloom told the audience that Faulconer stopped by the Prime Video activation and chose the “Carnival Row” [...]

  • 'Game of Thrones' Cast Calls Final

    'Game of Thrones' Cast Calls Final Season Backlash 'Media-Led Hate Campaign'

    What is life like now after “Game of Thrones?” That’s the question that fans have been asking themselves and that cast members had to answer at the show’s final Comic-Con panel. But first, Conleth Hill, Nikolaj Coster-Waldau and several others cleared the air and addressed the perceived negative response to the final season. “I don’t [...]

  • SDCC Roundup: AMC Drops 'The Walking

    SDCC TV News Roundup: AMC Releases 'The Walking Dead' Season 10 Trailer (Watch)

    San Diego Comic-Con has become a hotbed of entertainment news in recent years, especially for the television industry. In today’s SDCC TV news roundup, AMC dropped a trailer for the 10th season of “The Walking Dead” and FX released a first look at “Mayans MC” Season 2. FIRST LOOKS AMC debuted the trailer for Season [...]

  • ARCHER: 1999 -- "Cubert" -- Season

    'Archer' Renewed for Season 11 at FXX

    “Archer” has been picked up for an eleventh season. The announcement was made Friday at San Diego Comic-Con. The news comes less than a week ahead of the Season 10 finale. Season 11 is slated to debut on FXX in 2020. While the show initially focused on the agents and support staff of a covert [...]

  • Carnival Row

    Amazon Debuts New 'Carnival Row' Footage at Comic-Con (Watch)

    San Diego Comic-Con attendees got an extended look at the upcoming Amazon drama “Carnival Row” during the show’s panel at the annual fanfest on Friday. Two new featurettes (see above and below) offer in-depth looks at the backstories of the two main characters — Vignette Stonemoss (Cara Delevigne) and Rycroft Philostrate (Orlando Bloom). Delevigne plays [...]

More From Our Brands

Access exclusive content