Total Soft & License Funding
€3,744,000
Section 481 Tax Credit
€1,344,000
32% on €4.20M Spend
Distributor MG Recouped
€1,600,000
100% Cleared (Banijay)
Net Producer Backend
€304,000
Capital Stack Composition & Deficit Balance
Balanced Stack
■ RTE License: €900k
■ BBC Co-Pro: €1.50M
■ Section 481: €1.34M
■ Banijay MG: €1.60M
■ Senior Equity/Gap: €656k
First-Cycle Distribution Recoupment Waterfall
Standard high-end broadcast waterfall: Gross international syndication receipts flow through Banijay Rights commercial deduction, direct expense recovery, MG advance recoupment, senior gap takeout, and 50/50 net backend profit sharing.
| Priority Tier | Payee / Stakeholder | Inflow / Basis | Deduction / Allocation | Remaining Pool | Status |
|---|
Territorial Rights & Broadcast Windowing Schedule
| Territory | Broadcaster / Distributor | Window Type | Exclusivity & Platform Rights |
|---|---|---|---|
| Ireland | RTÉ (RTÉ 1 / RTÉ Player) | Primary Window | Exclusive linear broadcast & 12-month AVOD/BVOD catch-up; Irish territory holdback against UK transmissions. |
| United Kingdom | BBC (BBC One / iPlayer) | Co-Commission Window | Simultaneous or staggered 30-day second window; full 18-month exclusive UK SVOD/BVOD via BBC iPlayer. |
| North America & Global | Banijay Rights | International Syndication | All global linear, Pay TV, SVOD (e.g. US/Australasia/Europe networks) excluding Ireland domestic and UK BBC carve-outs. |
Executive Packaging & Financing Deal Memo
Project: The Murder Of Mr. Moonlight (High-End True Crime Drama, 4 x 60 min). Commissioned by RTÉ in partnership with BBC and distributed globally by Banijay Rights.
- Budget & Tax Structure: Budget €6,000,000 with €4,200,000 qualifying Irish expenditure generating €1,344,000 under Section 481 (32%).
- Broadcaster Commitment: RTÉ commits €900,000 (15.0%); BBC co-production presale commitment is €1,500,000 (25.0%).
- Commercial Distributor: Banijay Rights boards with a €1,600,000 minimum guarantee advance against international net receipts at a 20% sales commission.
- Recoupment Position: At €3,200,000 first-cycle global sales, Banijay fully recoups the €1,600,000 MG, senior gap tranche (€656,000) is 100% repaid, leaving €304,000 in net backend producer pool.