Gordon Burns TV quiz set to smash funding targetBy David Casey, Digital News Editor
A Cheshire business which is producing an interactive TV quiz show to be presented by former BBC North West Tonight anchor Gordon Burns looks set to smash its fundraising target after attracting 50 investors.
Quiz the Nation is being made by the team behind the Krypton Factor and will be shown on digital stations and in pubs across the UK.
The Challenge Factor IPTV Ltd, led by managing director Guy Morris, is aiming to raise £195,000 on Crowdcube in return for a 19.6 per cent equity stake. At the time of publication, it had raised more than 80 per cent of the total with 50 days to go.
In will use the proceeds to fund the launch of Quiz the Nation which it hopes will broadcasted on a digital TV channel every Sunday evening from October 2014.
Players will answer questions using a specially-developed Quiz the Nation app and compete for cash prizes each week.
The Macclesfield business said unlike many other quizzes, it will test "mental agility, speed of thought, and powers of observation". This means cheating by Googling answers is no longer an option.
Quiz the Nation will initially be aimed at pub chains as The Challenge Factor IPTV believes this will offer the best route to more rapid business growth. It said it has already held talks with Enterprise Inns, Admiral, Robinson's and JW Lees about trials once the TV show goes live.
The company estimates that if Quiz the Nation is played in 10 per cent of UK pubs, each containing an average of 20 players per week, it will generate annual revenues of at least £10m.
In order to break-even, it needs to attract 1,000 pubs each containing an average of 15 players on a weekly basis. This would generate takings of more than £4m and a net profit of at least £1.6m.
In addition to Guy Morris and Gordon Burns, the business is led by chairman Rod McMillan, production director Geoff Kershaw and chief technology officer James Brooksbank. The management team has invested about £35,000 in the current funding round.