Barclays launches £100 million fund to help UK TV production SMEs
Barclays has launched a £100 million fund to enable SMEs in the UK to compete internationally and boost employment.
The fund, which is the first of its kind to be launched by a major bank in the UK, will be aimed at TV production SMEs.
The fund comes as a result of an increase in popularity in SVoD (streaming video on demand) services, with the Barclays Media team developing Barclays SVoD Financing to help tackle the funding challenges faced by companies that work with SVoD distributors.
The new product will help to meet the funding requirements of these businesses, enabling them to borrow money over a longer period of time. Through the fund, SMEs will be able to develop new ideas and programmes, which will help to support employment and boost growth.
Broadcasters and SVoD distributors will also benefit from the fund by being able to efficiently manage their cash flow.
Commenting on why Barclays has chosen to create the fund, Barclays Corporate Banking Head of Media, Lorraine Ruckstuhl, stated that Barclays has been supporting TV production with its dedicated media team for more than 30 years, adding that the company knows that to meet the needs of its clients, it has to adapt with them and with the public’s viewing habits.
She said that Barclays has created the fund and developed Barclays SVoD Financing in order to help UK SMEs continue competing in the UK and internationally, support increased employment, and produce more great programmes.
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