Purely Capital has launched a FinTech platform to improve the process of financing film and TV production as well as boosting creators’ cashflows.
Institutional lenders and banks have backed the venture with $150m in investment to help London-based Purley capital bridge the gap between when content is licensed to global streaming platforms, broadcasters and publisher on the one hand and when those contracts pay out on the other.
In other words, it helps content owners get their licensing money faster.
“With more high-level buyers than ever hungry for content, it has arguably never been a better time to be producing and distributing film and TV content,” Wayne Marc Godfrey, CEO and founder of Purley Capital, told Variety. “While the unprecedented spend by streamers and broadcasters of more than $120 billion last year is impressive, rights owners are being forced to wait two to five years for licensing contracts to be paid out, putting companies under immense financial strain.”
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