Asset finance bolsters Arena TV investment plans
As Medialease’s longest standing client, Arena Television is well placed to explain how asset finance can aid an outside broadcast business.
Over the past 12 years, family-owned outside broadcast (OB) facilities provider Arena Television has regularly come to Medialease when it has needed funding for capital expenditure on OB trucks or for purchasing cameras and videotape (VT) equipment.
The most recent major deal was for Arena’s VT7 truck (pictured) but other ad hoc purchases are also commonplace with Sony cameras, Canon lenses and EVS slo-mo and replay servers all being procured with help from Medialease.
While leasing and hire purchase will never be the company’s sole source of finance, it does have an important role to play at Arena, as chairman and owner Richard Yeowart explains.
“Arena invests in excess of £1m each year from its own cash reserves,” he says. “However, there is still a place for competitively priced finance within the business to augment this expenditure. The use of fixed price vanilla HP products allows the business to fund purchases over a period that mirror contracts with the certainty of fixed monthly repayments.”
The contracts that Yeowart alludes to include Champions League and International football for ITV Sport, boxing for Sky Sports and the Aviva Rugby Premiership for ESPN, all of which run for multiple sporting seasons and are currently handled by Arena.
Long Standing Relationship
Constantly pitching for further OB work, thanks to its long track record in the TV industry, there is every reason to think that Medialease may continue the longstanding relationship and help Arena again in the future when these or other contracts come up for grabs.
“In a world where less brokers have an in-road into the major funders we benefit from Medialease’s long track record in the broadcast sector,” adds Yeowart. ‘With the added benefit of a flexible and transparent approach to address our needs.”
Medialease managing director Paul Robson is very proud to be associated with a company that is now one of the major OB suppliers to not just the UK sports and events broadcast market but right across Europe.
“From the early days of the late 1990’s where we were struggling to put deals together for their first Serial Digital (SD) large format truck to now, where we are currently looking at funding more 3G /3D compliant double expanding trucks, awash with the very latest technology, our relationship has really grown,” he says. “It is a credit to Richard and his highly experienced team at Arena and also to the skills and knowledge of the finance market we hold here at Medialease.”
If you’d like to find out more about how Medialease could help your outside broadcast business with OB trucks funding, or any other television technology related sector for that matter, please get in touch.
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