Firecrest to diversify after securing C4 investment

The investment is the first the broadcaster has made outside of England and is the first in a firm specialising in current affairs.

Firecrest Films founder and creative director Nicole Kleeman told Broadcast that the cash injection would allow her to make a number of senior appointments to help the indie expand into new genres.

She added that increased activity in Scotland had helped her grow the business. “Scotland has really changed – there are more commissions, more people moving up. It’s an exciting time,” she said.

The indie’s breakout hit is C4 consumer format Supershoppers, which was named Best Factual Entertainment and Features Show at the 2016 RTS Scotland Awards.

The second series averaged a consolidated audience of 1.5 million (6%) last year, ahead of C4’s slot average of 1.2 million (5.6%). The Christmas special was watched by 1.9 million (7.7%). It is returning for a third, six-part series in the near future.

“Through Supershoppers, we’ve seen the potential to expand our experience and specialism in revelation,” she added. “We don’t need to do that exclusively in Panorama documentaries.”

Before Supershoppers, Firecrest was best known for producing Dispatches episodes such as The Secrets Of Cadbury and Panorama docs such as The Truth About Pills And Pregnancy.

It now wants to use the skills gained on those strands to step into specialist factual areas such as history and science.

“I think there’s a real opportunity to branch out and with this investment, we can afford to bolster our senior team to help us expand our journalism reach,” she added.

Laura Franses, who heads C4’s Growth Fund, said Kleeman’s ambition to expand was key to the investment decision.

Firecrest is C4’s 12th investment deal and comes after it took stakes in digital distribution business TRX and multiplatform producer Barcroft Media last year. Franses said that it is now looking to fund entertainment and drama producers, as well as VR companies.

The Nutopia co-founder said she has spent around £15m of the £20m pot and expects to invest in another three companies this year. C4 is expected to add to the pot when the initial cash is spent and also plans to top it up with proceeds from the sale of Growth Fund indies. Broadcast understands that the sale of one of its early investments is imminent.

“The portfolio is in great shape,” Franses said. “Our understanding is that money will come back into the fund and replenish it. C4 is committed to it and views the fund as an important part of our commercial strategy.”