U.K.-based streaming platform True Royalty TV has embarked on a crowdfunding campaign to raise new funds to accelerate its growth in 2020.
Described as ‘the Netflix of Royal TV,’ the SVOD launched its crowdfunding campaign today with U.K.-based online investment platform Crowdcube.
True Royalty TV claims to have doubled its paying subscribers in the past six months, particularly from the U.S. The platform says demand for content about the Royal Family has been driven by the popularity of Netflix drama “The Crown,” as well as interest in the lives of William, Kate, Harry and Meghan and their children.
True Royalty is the first U.K. start-up SVOD to win distribution on major pay-TV platforms including Comcast’s Xfinity X1 platform, Cox Contour and Dish Networks (Sling TV) and most recently, Roku’s premium channel lineup alongside 30 other SVODs including HBO, EPIX, Showtime and Starz — as well as Apple TV, Amazon Fire TV, Android and iOS apps.
The platform streams its original and acquired content about royalty to subscribers in the U.K., Ireland, U.S., Canada, Australia and New Zealand.
The company says it has previously raised £7 million ($8.6 million) from private sources.
Money raised via the crowdfunding push will be earmarked for programming acquisitions and future production, as well as for activating new major distribution channels and marketing partnerships.
True Royalty TV’s Crowdcube campaign has already raised £1.9 million ($2.3 million) from investors.
The crowdfunding will also feature subscription incentives and discounts for Crowdcube participants. These include a six-month free subscription for those who invest £100 ($120). For a £5,000 ($6,100) investment, there is a 12-month sub for four people plus afternoon tea with True Royalty TV founders at The Goring Hotel, where The Duchess of Cambridge stayed the night before her wedding to Prince William, followed by an exclusive tour of Clarence House, the home of The Prince of Wales.
“While there is currently a surge in viewing during lockdown, more importantly, we see huge potential for long-term growth by capitalizing on the global demand for programming about the world’s fourth biggest brand – the British Royal Family – as well as the ongoing structural changes in the way viewers are consuming TV content,” said Gregor Angus, CEO and co-founder of True Royalty TV.