As UKTV Ventures strikes its latest airtime-for-equity deal with a funeral company, Mark Layton talks to director Brendan Kilcawley about how the business wants to grow the TV advertising market by planting seeds that will pay off in the long term.
Launching in late 2018, UKTV Ventures is a multi-million-pound investment fund operated by BBC Studios-owned broadcast network UKTV that takes equity stakes in startup businesses in return for advertising airtime on its portfolio of channels.
The latest deal, announced today, sees UKTV Ventures selling £1m ($1.28m) of TV advertising to funeral planning service Legacy of Lives in return for a minority stake in the company.
