Content Production and Financing

CMS’s production finance team has considerable experience acting for a wide range of producers, financiers and distributors in this space. We understand the issues facing producers and financiers in today’s competitive landscape - from development and rights clearance to financing, accessing tax credits and other production incentives and all production, financing and distribution related matters. 

We act for content makers, studios, distributors and an array of debt, equity and structured financiers as well as media funds. We advise production companies throughout their lifecycle, from establishing new production businesses, to advice on the structuring and talent agreements needed for high profile shows and distribution deals.

Our lawyers are experts in development deals for film and TV, such as option agreements for underlying rights or deals with scriptwriters and showrunners. We advise on cast, producer and director deals as well as Guild issues. We also specialise in script reads and in the exploitation and protection of content formats.

Our client base in this area includes Warner Bros Discovery, BBC, ITV, FremantleMedia, Really Useful Group, Fifth Season, Primo Productions and Elysian Film Partners. On the financing side, we advise Ingenious Media, Barclays, Coutts & Co, Ashland Hill and Union Bank, to name just a few.

We regularly advise producers and financiers on matters that relate to:

• International incentives: Together with our international media specialists and production finance experts, we advise producers looking to access production incentives as part of their finance plan, helping them structure their co-productions accordingly and financiers seeking to lend against such incentives as part of their collateral. Our unique blend of international media and financing expertise enables us to act as a one-stop-shop for any organisation exploring the opportunities presented by the various production incentives around the world.
• Changing financing models: The entrance of the US streamers and ever-increasing production budgets have changed financing models for film and TV content. The CMS production finance team works with its clients to help structure their finance plans and access funding against this backdrop. 
• Generative AI: The industry is grappling with the implications of new technology, with questions around generative AI a live issue for many clients. We are helping our clients to navigate the potential – and the risks - of AI created IP.   

Highlights of our recent experience:

• Brokered and negotiated the overarching deal between Jeremy Clarkson and his team and Amazon for the commissioning and production of The Grand Tour, at its time the largest value original programme commission in the UK. CMS continues to advise Jeremy Clarkson and the team on all aspects of The Grand Tour and Clarkson’s Farm.
• The Imperial War Museum and 14/18 Now in connection with the production, financing and distribution of the Peter Jackson film They Shall Not Grow Old which was commissioned especially for the centenary celebrations to mark the end of WW1.
• Charlie Brooker and Annabel Jones, the creators of Emmy award winning series Black Mirror and the interactive special Bandersnatch, on setting up their new content production company, Broke and Bones, and on Netflix’s investment into the company.
• Barclays Bank and Coutts & Co: On a number of single project film and TV financings, including lending against tax credits and distribution and broadcast licences.