SOCIAL FINANCE AND LAS VEGAS : A WORLD APART OR ARE THEY?


TV-Bay Magazine
Read ezine online
Peter Savage draws parallels between funding for social benefit and the razzamatazz of NAB in Las Vegas.
Last month we discussed crowdfunding in the context of TV and film production. It’s funding again this month because, during our ‘Look, Listen, Experience’ speaking tour, several people asked me whether social and/or community funding are potential sources of credit for businesses in our industry. It would be wrong, though, to ignore the NAB Show in Vegas so I’ve included a summary about that. First, funding…
Social and community funding basics
Social and/or community funding is arranged by community development finance institutions (CDFIs) which are part of the Community Development Funding Association (CDFA). (That’s enough acronyms!)
CDFIs lend money to businesses, social enterprises and individuals who struggle to get finance from high street banks and loan companies. Their main focus is on deprived communities – particularly in the north and northwest. Indeed, half the money that is lent via CDFIs is distributed in those regions.
The stats show that, in the UK at the end of 2010, the CDFA had 66 members lending through 175 branches. Their collective loan portfolio stood at £531m plus they helped to leverage an additional £600m of loans from mainstream finance. So cumulatively they have helped to raise about £1 billion in loan facilities. And last year, they made 19,000 loans, totalling £200m.
The CDFA’s helpful and informative website (http://www.cdfa.org.uk) lists its members, with contact details, and I recommend it as a starting point if you are looking to apply for this form of credit.
What sorts of loans?
So, where do CDFIs fit into the credit equation? They predominantly sit in the market for micro credits. If you want borrow under £15,000, and have been turned down by banks and other mainstream institutions, and if your business idea will help employ people or has a social or community benefit, then try a CDFI. However, without harping on yet again about the importance of business planning, it is a fact that having a decent business plan is often what unlocks the credit. Make sure that you give it your best shot, by having a credible and coherent plan showing how you will make that cash work, whoever you are applying to for credit.
The most successful social funding project ever …
Now onto my report on the world’s most famous bi-product of one of the largest ever social funding projects. Borne out of the Great Depression of 1929 (and, no, I wasn’t around then), the Hoover Dam (built to control floods, provide irrigation and produce hydroelectric power) created jobs for thousands of people – and led directly to the creation of Las Vegas, home of the National Association of Broadcasters (NAB) annual convention, now officially known as the Nab Show. It’s the second largest conference in Vegas with 100,000 delegates and it generates over US$100m of revenue for the city – outside the conference doors.
Yes, NAB in Vegas was, as ever, full of razzamatazz with a resurgence of exhibitor parties and a feeling that the US and, indeed, the broadcast industry are certainly not in a double dip recession.
No 3D queasiness
It was the first time in three years that I didn’t end up feeling queasy from a proliferation of 3D demonstrations. It is bad enough with jet lag, late nights and alcohol but, when all the manufacturers were showing 3D, it really did make for a nauseous affair.
From my point of view, 3D has thankfully been pushed into the background as non-mainstream and the general theme seems to be the very competitive market in camera acquisition. Many words have been written about Blackmagic Design launching its cinema camera but, in reality, this year’s show demonstrated that the market is in a strong position, with enormous choice for the cameraman.
Simple is best
Formats need to settle down, though, as we see 2k, 4k, 5k and even 6k being bandied about. Many manufacturers seem to forget that, irrespective of the amount of information their cameras can capture, what matters most is how people manage their workflow. The leaders in this market are those manufacturers who demonstrate how to capture perfect images, rather than purely demonstrating how much information can be captured. It’s a simplistic view but remember that simple is best and, for many people like myself, the technical specifications are no better than equal to, and are probably secondary to, having a proven and workable workflow. Now where have you heard that before?
Don’t double dip
So, NAB was more of the same and that’s true, it seems, for the summer that is supposedly now upon us . The coming of the Olympics means more of the same – and perhaps that also means we in broadcast won’t suffer from double dip.
If you would like more information on finance for your business, do email me on peter.savage@azule.co.uk and/or write to the TV Bay editor. For more information about us, or to read other articles in this series, look at our website: www.azule.co.uk.

Tags: iss065 | azule | cdfi | loan | finance | azule | N/A
Contributing Author N/A

Read this article in the tv-bay digital magazine
Article Copyright tv-bay limited. All trademarks recognised.
Reproduction of the content strictly prohibited without written consent.

Related Interviews
  • Azule Finance at BVE 2013

    Azule Finance at BVE 2013

  • Azule Finance at BVE 2016

    Azule Finance at BVE 2016

  • Kit Financing with Medialease at NAB 2017

    Kit Financing with Medialease at NAB 2017

  • Five Arrows Media Finance at IBC 2015

    Five Arrows Media Finance at IBC 2015


Related Shows
  • Paragon Bank Technology Finance at BVE 2016

    Paragon Bank Technology Finance at BVE 2016


Articles
Managing Technological Change
Alan Wheable Continual technological change in the broadcast and media industries can make it difficult to plan for the mid to long term. Typically, broadcasters and media organisation are still implementing the last set of changes to working practices when the next changes come along.
Tags: iss133 | omnitek | ip | waveform | vectorscope | ultra tq | Alan Wheable
Contributing Author Alan Wheable Click to read or download PDF
What is next in OTT
Mary Kay Evans In the past year alone, we’ve seen a substantial increase in the amount of OTT content that’s being streamed. In the first quarter of 2018, there’s been a 114 percent year-over-year growth in streaming video hours, and those numbers are only expected to rise. With OTT revenue predicted to reach $16.6B in 2018, a 40% gain over last year, there’s no question that OTT is booming, and that there’s never been a more critical time to pay attention to the space.
Tags: iss133 | ott | verizon | cisco | Mary Kay Evans
Contributing Author Mary Kay Evans Click to read or download PDF
Ride along on the Tour de Tech at IBC
Lorna Garrett Finding your way through the halls and aisles of the massive IBC can feel a bit like attempting to complete all 21 stages of the Tour de France — but in far fewer days. But have no fear; your team at Garland is all geared up and ready to show you the best on show at this year's exhibition.
Tags: iss133 | garland | liveu | lu600 | media excel | teracue | wisi | broadcast wireless systems | bws | artel | ibc | Lorna Garrett
Contributing Author Lorna Garrett Click to read or download PDF
Live audio contribution over wireless networks
Pablo Rodrigues Altmann Wireless “live” contribution from anywhere at any time, this is the ultimate goal for most news reporters. The old favorite of using ISDN is becoming harder and much more expensive to access easily. Today most of us use wireless daily, in particular Wifi and HSPA/LTE 4G networks. These are now mature technologies and widely used for many applications in the home and whilst out and about. However there are still some professionals who prefer to persevere with the traditional, costly and limited ISDN communication technology before jumping into the wireless era.
Tags: iss133 | adrl | wireless audio | isdn | cellular audio | Pablo Rodrigues Altmann
Contributing Author Pablo Rodrigues Altmann Click to read or download PDF
OB999 Accelerates Hill Climb Broadcast
Nick Collier Over the last century, The Shelsley Walsh Speed Hill Climb has been attempted by some of the world’s most accomplished racing drivers striving to be the fastest up the 1,000 yard, 1 in 6 gradient track.
Tags: iss133 | ob999 | blackmagic | atem | multicam | videohub | cleanswitch | premiere pro | hyperdeck | Nick Collier
Contributing Author Nick Collier Click to read or download PDF