Zinc Media Group, which is home to five factual TV production brands, has completed a £4 million ($5.2 million) fundraising round to help propel its growth.
Mark Browning, CEO of Zinc Media, said: “COVID-19 has increased the pace of change in commissioning and opened up new opportunities for Zinc. We are now having discussions about all sorts of opportunities that weren’t available six months ago.”
“This investment provides a bulwark against further Covid related disruption, even if it extends into 2021, and it means we can now drive forward our growth plans,” added Browning. “New markets for content creation are emerging and we see opportunities for further revenue diversification as we expand the kind of content we make both in Zinc TV’s labels and in Zinc Communicate. Zinc has a strong U.K. footprint in the Nations, Regions and London along with a sizeable proportion of revenues from outside the domestic market.”
Zinc Media Group is comprised of Blakeway, Brook Lapping, Films of Record, Tern Television and the recently launched Red Sauce. Zinc Communicate, its agency division producing TV and digital content for advertisers, publishers, media owners and rights holders, houses Zinc’s new branded content division, which launched in June.
This new investment, to help drive growth in 2021, follows a previous fundraising round, which attracted £3.5 million of new funds in January this year.
“This new investment is a huge endorsement of the progress we have made since January and will allow us to realize our ambitions in 2021,” said Browning.
“Demand for our labels’ programming is extremely strong, both domestically and internationally, and we are getting a lot of traction in the U.S. Our strategy for 2021 includes diversifying our revenues; exploring IP and format rights; developing our radio and audio business and expanding our Nations and Regions profile. Exceptional creative talent is at the heart of this strategy.”