Sky has today pledged an additional £1.5m to fund free advertising for small businesses hit by coronavirus.
The scheme will provide £10,000 of funding to 150 UK SMEs that have been running for more than a year with fewer than 50 employees.
Last month Sky Media, the advertising sales arm of Sky, debuted its SME Support Scheme with a £1m fund for 100 businesses.
The additional funding announced today brings the total SME investment via the scheme to £2.5m and hikes the total number of SMEs supported to 250.
The advertising will be delivered via Sky’s Adsmart platform, which allows brands to show different ads to different households watching the same programme, based on specific factors such as location, demographic and lifestyle helping SMEs target their core audience.
David Sanderson, director of Adsmart local and development at Sky said: “We received over 1,000 entries in just five days when we opened the scheme — so now we’re extending it.”
“SMEs have a voracious appetite for targeted TV advertising at the moment. As lockdown eases more brands are returning to TV every day and advertising via Adsmart allows companies to reach their target audiences.”
Recipients of the original batch of funding have included SMEs that have been at the forefront of the fight against coronavirus, such as Scotland’s Charity Air Ambulance and Buckinghamshire-based care provider Care & Care.
The additional funding comes as broadcasters continue to suffer a drought in advertising revenue as many businesses reduce activity during the coronavirus crisis.