Financing the Audiovisual Industry

  • Mario La Torre
Open Access


This chapter describes the main financial techniques adopted by financial intermediaries to finance audiovisual productions — such as the slate financing structure and the ticked linked bond — and the use of innovative instruments — such as securitization of rights, crowdfunding and microcredit. These techniques follow the logic of contract discounting rather than gap financing. In this latter case, intermediaries usually prefer to act as lenders, rather than to act as equity investors. The reason is to be found precisely in the logic of risk management. In this perspective, the chapter outlines a taxonomy of financial risks associated with financing the industry and the role of guarantee funds in managing the credit risk exposure.


Cash Flow Credit Risk Investment Fund Single Project Business Risk 
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Copyright information

© Mario La Torre 1999

Open Access This chapter is licensed under the terms of the Creative Commons Attribution 3.0 International License (, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence and indicate if changes were made.

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Authors and Affiliations

  • Mario La Torre
    • 1
  1. 1.University of RomeItaly

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