UKTV invests $1.2m in biography firm StoryTerrace via ‘airtime-for-equity’ deal

BBC Studios-owned UKTV has made a £1m ($1.2m) investment in UK-based biography-writing service StoryTerrace.

The deal, which is via investment fund UKTV Ventures, will see the Dave and Alibi channel operator taking an undisclosed stake in StoryTerrace in return for advertising airtime on its networks.

StoryTerrace aims to match ordinary people with a professional ghost-writer to turn their life story into books.

Rutger Bruining, founder & CEO of StoryTerrace, said: “We have seen a large uptick in people wanting to pen down their life stories post-pandemic, but awareness of our service is still at a negligible level. The huge reach that the UKTV network provides is perfect for building awareness and our customer base, helping us carry out our mission of extracting the extraordinary stories from ordinary people across the UK.”

Brendan Kilcawley, head of commercial at UKTV Ventures, added: “We believe StoryTerrace’s mission to preserve memories will strike a chord with UKTV audiences and people globally. The power of TV advertising to boost brand awareness is huge and we are excited to be partnering with Rutger and his team to support growing the business.”

UKTV Ventures invests airtime, instead of cash, in companies looking to accelerate their growth, with the deal following simlar arrangements with cosmetics brand KinKind and social media platform, WeAre8.