'New era' for cinema after £700,000 funding boost

Tyneside Cinema was built in 1937

An independent cinema which previously faced the threat of closure has secured a six-figure funding boost.

Tyneside Cinema, in Newcastle, has received a £700,000 loan from the North East Social Investment Fund, which will be used to fund a "major turnaround plan" for the venue.

Chief executive officer Nic Greenan called it a "new beginning" for the cinema.

"Securing this funding gives us the solid foundation which we need to not just continue the Tyneside’s incredible history, but to build a vibrant and exciting future," she said.

"Since I joined the Tyneside, I’ve been absolutely bowled over by the love people have for this place and the passion they have for what it does – there really is nowhere else like it."

The funding, which will be paid back over the next 10 years, will help to secure the immediate future of Tyneside Cinema.

The venue has also secured a grant of £37,500 from The County Durham Community Foundation and said it planned to expand its activities in the community.

Naomi Allen Seales and Nic Greenan spoke of their delight at the funding

Naomi Allen Seales, from Northstar Ventures, which manages the North East Social Investment Fund, said: "Tyneside Cinema is far more than just a cinema or a building: it’s a cultural institution and a charity whose activities and influence spreads into communities right across the region and further afield.

"That’s why when we were approached by the Tyneside for finance from the North East Social Investment Fund, we were delighted to be able to help."

Last year, the cinema launched an emergency fundraising campaign after a combination of a post-Covid slump in audiences, the cost of living crisis and soaring energy bills put it at risk of closure.

The campaign raised more than £100,000 in donations.

In 2020, the cinema promised to make changes after a review found it had failed to properly handle claims of harassment and sexual abuse.