True Royalty TV Extends Crowdfunding Round Following Huge Demand
True Royalty TV, the London-based subscription video-on-demand service (SVOD) dubbed ‘the Netflix of Royal TV’ is extending its Crowdcube fundraising campaign following exceptional demand.
The fundraising has already doubled the initial target, surpassing US$2m in two weeks, and is still rising. Funds raised will be used to capitalize on momentum over the last year and accelerate growth during 2020, by activating new distribution channels and extending the service’s international footprint. The Crowdcube campaign follows private placements totalling more than US$9m from US and UK investors and media industry figures.
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In the past six months True Royalty TV has doubled its paying subscribers across the UK, Ireland, Australia, Canada, New Zealand and in particular the US, where there is huge demand for content about the Royal Family. It has also recorded a 40% increase in viewing during the Covid-19 lockdown.
The British Royal Family is the world’s fourth biggest brand*. Research shows that in the US, 25m people who stream television have actively stated an interest in watching more content about them. True Royalty has formed sought after partnerships with the US’s leading TV platforms including Comcast, Cox, Dish and Roku, and will be actively marketing the channel to these subscribers and more across over 50m homes.
“True Royalty is a great British business success story, rapidly increasing our subscribers and signing partnership deals giving us front and centre placement on the US’s biggest TV platforms, with seamless access to more than 50m households,” said Gregor Angus, CEO and Co-founder, True Royalty TV. “While there is a surge in viewing currently during lockdown, more importantly, we see huge potential for long-term growth by capitalizing on the global demand for programming about the British Royal Family as well as ongoing structural changes in the way viewers consume TV content.”