Read the Sunday Times article by Jamie Nimmo about the first UK-listed Investment Trust to offer exposure to the streaming boom.
Great Point Entertainment Income Trust will provide production finance for commissioned content from the world's leading streamers, broadcasters and studios.
Click here for the article: https://www.thetimes.co.uk/article/small-axe-financier-to-float-200m-streaming-trust-57r5jk9h0
Full text below:
SMALL AXE FINANCIER TO FLOAT £200M STREAMING TRUST
Sunday January 31 2021, 12.01am, The Sunday Times
The film financing company behind the BBC’s Small Axe series will give investors the chance to tune into the streaming boom by floating a £200 million trust.
Great Point Media, based in London and chaired by Robert Halmi, the founder of the Hallmark TV channel in the US, is to list a trust that will finance films and shows on streaming platforms such as Netflix and terrestrial TV.
It will be the first time City investors have been able to cash in on streaming, which has boomed in lockdown.
Great Point Entertainment Income Trust will be managed by Great Point, which has financed hit shows including Small Axe, the BBC crime drama Line of Duty and ITV’s Doc Martin.
It hopes investors will stump up £200 million initially, with further rounds planned in the future to finance films and shows that have already been commissioned.
Brokers at N+1 Singer are advising Great Point on the listing, which is expected to be unveiled this week.
The company plans to provide loans to production companies and will earn money on the interest, which it plans to return to investors via dividends. It wants to replicate the success seen by music-streaming investment trusts such as Hipgnosis.
Chief executive Jim Reeve said it was different to film financing schemes in the past that were heavily criticised for their tax benefits and were only available to wealthy individuals.
Reeve said: “This is very much efficient finance of content. It’s not about having a punt on a movie and hoping it’s going to be Joker 2.”