TV production company turns to ThinCats for growth funding
A London television production company that makes programmes for Sky and Netflix says it is set to grow its output after working with Ashby de la Zouch alternative finance specialist ThinCats.
3DD Productions creates a range of TV series for channels such as Sky Group, Viasat, Netflix, UK TV and Discovery. The company first approached ThinCats for funding in 2013, after diminished bank lending had made traditional borrowing difficult. It had plans to bring post production in-house to reduce production costs, and to increase the number of their television series licensed worldwide.
It’s global business, dealing with such names as Sky and Netflix, needed a particular contract style with extended payment terms and long-term commitments, standard for such global cable and satellite broadcasters. This has led the company to return to ThinCats for a number of loans since, via partner firm, F&P Sponsors.
3DD’s chief executive, Dominic Saville, said: “ThinCats and F&P understand our business, and the strength of these business relationships, and we have been able to see a successful period of working together.”
The funding enables the company’s continued production output for their key accounts, with recent highlights including Murder Maps 3 on UKTV Play, a further season already commissioned and a new strand, Myths & Monsters, which recently enjoyed a successful premiere on Netflix UK and USA. 3DD is also in pre-production for Legends of Opera and Comedy Greats, both brand new series in co-production with Sky Arts.
Saville added: “ThinCats has demonstrated a business strength, coupled with a good understanding of the TV industry and its globalisation. The lenders understand 3DD’s business model and can see the results in our business growth and on the screen. The process is fast, and this allows for new opportunities to be proposed and turned around within weeks.”
Damon Walford, CDO at ThinCats said: “3DD has big plans to continue to continue to grow its output; expanding the in-house production and editing capability, creating new series strands, building larger accounts with broadcast partners and focusing on growing developing markets such as China. Strategic funding is key to fuelling such impressive goals.”