TV company secures £5m loan to increase production of comedy programming
A national television company has announced that it has secured a £5m loan to expand production on programming.
Timeline Television, based in London, has seen increased demand for the production of light entertainment and comedy programming during Covid-19 as people across the country spend more time at home.
The company, which provides technical and creative production solutions for broadcasters including BBC, ITV and BT Sport has secured the £5m loan from HSBC UK.
The loan has allowed Timeline to invest in more remote production engineering capabilities to cater for increased remote working across the sector.
Roger Sewell, finance director at Timeline, commented: “The CBILS funding from HSBC UK was not just about protecting the company during lockdown, but for our longer-term recovery whilst ensuring we continued to deliver, improve and increase our production services to broadcasters across the UK.
“The way we needed to work changed overnight, as did consumer habits in watching television, so the funding immediately enabled us to invest in remote production – an area where a limited number of people are trained – as well as reacting quickly to shifts in programming demand.”
Rob Brand, deputy area director for South and West London corporate banking at HSBC UK added: “HSBC UK is committed to helping businesses who have been impacted by COVID-19, and production companies and sporting events continue to see significant changes to ways of operating.
“The CBILS loan has allowed Timeline Television to invest in areas of high demand, whilst changing the ways in which its employees work, reinforcing its position as a leader in the sector.”
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