Film financier Prescience has launched subsidiary Ignition Media Finance to provide short term media finance and pre-production funding for producers. During the last decade, Prescience, directly or via Hindsight and Bridgeworks, has lent in excess of $100m to film and TV companies in the US, UK and Europe, including The King’s Speech. This financing is now being consolidated through Prescience’s Ignition business. Ignition will frequently lend a producer between 15% and 20% of the total budget during pre-production. Ignition will attempt to be flexible and respond quickly to producers, potentially in less than a week.
“Our expertise and track record has delivered very practical solutions for dozens of productions,” said Ignition and Prescience chief exec Tim Smith. “We are working with the very best sales agents here at the AFM. Ignition will focus its efforts in this vital area of the business at the most crucial point in a films journey – the preparation of the production.”
The first film to get financing from Ignition is Roger Spottiswoode’s A Street Cat Named Bob, based on the bestselling book about a busker and recovering drug addict, who transforms his life when he meets a stray ginger cat. Luke Threadaway stars.