[cma-l] Sheffield TV channel hits launch funding target

[Steve Buckley]

http://www.sheffieldlive.org/tv-channel-hits-launch-funding-target/

Sheffield Live TV, the local television channel 
for Sheffield, has achieved its launch 
fundraising target – with over 100 supporters 
applying to become “community shareholders”.

Sheffield Community Media Ltd, a new community 
benefit society which owns Sheffield Live TV, has 
raised £160,000 through community shares and 
social investment commitments: nearly £10,000 more than its target.

The crowdfunding initiative to put Sheffield’s 
local TV channel into community ownership is the 
first of its kind in the UK media sector enabling 
Sheffield people, businesses and voluntary 
organisations to participate as investors in a 
society to support local community media.

In the last 7 days of fundraising, nearly £20,000 
was generated, taking the campaign over the 
target it needed to achieve by 14 August. Over 
100 individuals, businesses and voluntary 
organisations have each applied for between £100 
and £20,000 worth of community shares. The cash 
will be used to purchase equipment and complete 
studio facilities for public access and 
independent production. Sheffield Community Media 
intends to pay its community shareholders a modest rate of interest.

The new TV channel will broadcast on Freeview 
Channel 8, Virgin Cable, and the internet. Once 
on air, from 23 September, it will benefit from 
revenue via a contract to supply news to the BBC 
– as well as local and national advertising and 
sponsorship. The channel will collaborate with 
existing community radio station, Sheffield 
Live!, which has been broadcasting via FM for nearly seven years.

Sheffield Live TV will broadcast news about 
Sheffield alongside programmes covering Sheffield 
music, sport, culture and much more. It promises 
unique, high quality content, “Made in Sheffield, 
Made by you.” A flagship daily news programme 
will cover Sheffield news in depth while other 
programmes will cover Sheffield’s “rich, varied, 
and diverse”  music, events, culture, arts, and sports.

Steve Buckley, the Chair of the new TV channel 
and a director of Sheffield Community Media, said:

“We are delighted that so many Sheffield people 
and organisations have shown their support for 
Sheffield Live TV and community-owned media by 
applying for community shares. We’d like to thank 
them for their support and we look forward to 
their involvement in the channel.  We are in the 
final phase of our planning to launch Sheffield 
Live TV which will be locally owned and run for 
community benefit.  We aim to develop a 
multimedia news service and to deliver original, 
locally-made programming, reflecting the 
interests and talent of Sheffield people and communities.”

Further information

Sheffield Community Media Ltd has raised £90,000 
in community share applications and pledges from 
114 individuals and businesses and a further 
£70,000 in social investment loans from the Key 
Fund, a community development finance institution.

Sheffield Community Media Ltd is a society for 
the benefit of the community incorporated under 
the Industrial and Provident Societies Act 1965. 
Registered with the Financial Conduct Authority. 
Registration No: 31727R. Registered address: 15 
Paternoster Row, Sheffield, S1 2BX