Equity Returns for TV Show Financing?

Hello!

Hope everyone is well! I'm doing an internship with a consulting firm which is helping raise money from equity investors for a TV show production. They are producing a biopic show (9-10 episodes) and sell it to streaming services.

I am looking for some data on the expected returns for equity investors for TV shows, specifically those based on biographies (Victoria, Medici: Masters of Florence). So far, I have found only one study by NYU that talks about expected returns from independent films. However, I'm looking for better comparables. Is there any publicly available resource that I can use? Can anybody point me to any resources/contacts that I can use?

Any help is appreciated. Thank you.

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Best Response

Ice Road Truckers and Pawn Stars were mega deals for 2017, rounding out Q3 deal volume for television shows at a total deal volume of $15.6B.

Vikings was a particularly interesting transaction as it had a EV/EBITDA ratio of of 10.5. However, EV/Revenue was only 2.5 which is surprising given Nordic tribe documentaries receive a premium for their beards due popularity with 20-30's millennial males. The discount was attributed to their senior management who was quoted being exceedingly "barbaric" in negotiations. This, in addition to the conflict between nordic tribes weighed heavily on the capital markets. We expect to see disruption in fiction based biographies to continue through Q1 of 2018.

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