×
You will be redirected back to your article in seconds

Barclays Doubles Fund for Streaming Content to $256 Million

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.”

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” specials for Silvergate Media.

Denis Wray, financial controller at Drama Republic, said: “Barclays understands the financial challenges associated with high-end drama production financed in large part by an SVOD license. For ‘Black Earth Rising,’ the borrowing profile was steep and the repayment tail was longer than the U.K. industry was used to. As partners, Barclays are supportive of their producers, aware of the risks and challenges that we navigate on a daily basis, knowledgeable, ready to listen, and available to help when required.”

“We’re seeing more and more SVOD activity and an increasing need for tailored financing that meets the specific needs of both the production company and the subscription service,” said Lorraine Ruckstuhl, head of media at Barclays Corporate Banking. “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.”

More TV

  • Maniac

    Emma Stone, Darren Criss and More React to SAG Award Nominations

    The nominations for the 25th Annual Screen Actors Guild Awards were revealed on Wednesday morning, and “A Star Is Born” commanded the list with four noms alongside TV series “The Marvelous Mrs. Maisel” and “Ozark.” The awards recognize acting and ensemble performances across television and film, and this year, plenty of performers will be competing [...]

  • Golden Globes TV Predictions

    Golden Globes 2019: Top TV Categories Broken Down With Projected Winners

    Big name nominees dominate an increasingly competitive small screen landscape, and Variety analyzes what to expect when winners’ names are read at the Golden Globes Jan. 6. Drama Series In complete contrast to last year, all but one of the nominees in this category are newcomers. Up for its sixth and final season, FX’s Soviet [...]

  • Maniac

    How the HFPA Played It Safe With 2019 Golden Globe Nominees (Column)

    At a time of unprecedented richness and depth across TV programming, an awards show already known for its brazen willingness to follow its own instincts could have gone just about anywhere. But the biggest surprise of the Golden Globes’ nominations for television may have been just how safe they were. To wit: A broadcast that [...]

  • Joel McHale Cast as Starman in

    Joel McHale Cast as Starman in DC Universe's 'Stargirl' (EXCLUSIVE)

    Joel McHale has been cast as Sylvester Pemberton aka Starman on the upcoming DC Universe series “Stargirl,” Variety has learned exclusively. The role is being described as “Golden Age Starman” and will be a recurring one for McHale. A courageous and confident superhero, Starman is a member of the Justice Society of America. He wields a [...]

  • If Beale Street Could Talk Sharp

    Golden Globes: Amy Adams, Regina King Lead List of Crossover Nominees

    In the age of peak TV, actors, writers, directors and producers, and subsequently their managers and agents, are open for business in any medium, and that new attitude shows in awards nominations, especially when it comes to the Golden Globe acting fields. Amy Adams and Regina King scored nominations in both film and TV categories [...]

  • 2019 Variety Predictions

    2019 Predictions: What's in Store for Film, TV and Music Next Year?

    It would be hard to top the drama of 2018. From media mega-mergers to the rise of Time’s Up, it was a year that had more than its fair share of twists and turns. Leslie Moonves resigned in disgrace, AT&T snapped up Time Warner, Disney inched closer to subsuming Fox and “Black Panther” shattered box [...]

  • SAG Awards TV Nominations: 'Barry,' Kominsky

    'Kominsky Method,' 'Barry,' 'The Americans,' 'Atlanta' Crash SAG Awards' TV Party

    “Barry” and “The Kominsky Method” went all the way on their first SAG Awards ballot while “The Americans” joined the party at long last for its final season. SAG Awards voters cemented Netflix’s “The Kominsky Method” as a kudos season contender with comedy actor noms for stars Michael Douglas and Alan Arkin, and a comedy [...]

More From Our Brands

Access exclusive content