UK-based TV accelerator program Indielab has named its 2018 indie cohort of 16 production studios set to receive a boost to their operations.
Those selected for the program, now in its third year, represent a balanced mix of scripted and non-scripted companies from the London and regional areas.The selected participants include Big Mountain Productions, Bingo Productions, Brown Bob Productions, Bryncoed Productions, Bullion Productions, Folk Films, Gobstopper Television, Greenacre Films, Hello Dolly, Middlechild Productions, Plug-in Media, Silverfish Films, Summer Films (formerly Locomotive Film), Swan Films, Synchronicity Films and Ten66 Television.
To have been eligible for the program, companies needed to meet a handful of requirements that included being founded and registered as in the UK with less than £5 million (US$6.97 million) in non-scripted turnover, and £8 million (US$11.16 million) in scripted turnover, and 80% independently owned.
As in previous years, the 2018 program is crafted to provide cross-sector support, with the indie cohort offered specialist training, networking and investment opportunities from 50-plus industry leaders. If relevant, participating companies are then put forward to pitch to hand-picked, industry-specific investors.
This year, British pubcaster BBC is providing support for companies either from the Nations and English Regions or with diverse leadership, and Sony Pictures Television is also supporting black, Asian and minority ethnic (BAME) participants.
The networks join UK pubcaster Channel 4, which returns this year with a further investment from its Growth Fund, and Nations and Regions, and Creative Diversity departments.
The final cohort will also receive expert advice from Indielab’s corporate sponsors, including Banijay Rights, Passion Distribution, Barclays Bank, media investment specialist Ingenious Media, law firm Harbottle & Lewis and post-production facility The Farm.
The program runs from now to the end of May 2018.
“We are delighted to open a third Indielab program this year, supporting the growth of the UK Indie sector and our incredible talent,” Indielab founder Victoria Powell in a statement. “During this year’s selection process, we intensified our focus on diversity in all its forms. We are, of course, incredibly grateful to our funders and sponsors for their help in achieving this.”
The 2017 sophomore cohort class is expected to see a total of £4.9 million (US$6.84 million) added to their revenue across the next 12 months, an average £327,000 per company, according to Indielab.
As well, 77% of those companies also anticipate entering into either a first-look or international distribution deal over the following year, with sales estimates averaging £172,000 per indie, or £2.6 million for the cohort. Additionally, 90% of the 2017 indies had begun discussions with one or more distributors to achieve these sales.