Advanced Television

Lovefilm refinances for VoD

January 23, 2009

Lloyds TSB is providing £10.5 million (E11.5m) in debt funding to European DVD and games rental service Lovefilm, designed to repay existing debt and invest in VOD technology. Amazon is Lovefilm's largest shareholder after putting its European and German DVD rental ops in to the business last year.

Lovefilm announced record sign-ups over the Christmas period, leading to over one million total subscribers. It said it turned profitable last year and expects to grow income 50 percent from the last year.


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