The Tyneside set for new era after securing six-figure funding

I am chuffed to announce that Tyneside Cinema is at the beginning of a new era after securing a £700,000 loan from the North East Social Investment Fund, which is managed by Northstar Ventures.

This money will be used to fund a major turnaround plan for the cinema, which as you will know has been facing an existential financial crisis over the past two years.

In this next chapter of our story, we will continue to be the Tyneside, a home for cinema that holds a special place in all our hearts. We will be using this opportunity to offer even more to the city and North East as a whole, with the aim of becoming self-sufficient and self-funding within the next two years.

I’m incredibly grateful to our loyal customers, staff, board and stakeholders, who have all dug deep and gone the extra mile to keep our charity going, enabling us to access the funding we need not just to survive, but to grow and thrive.

It’s been a long year since we launched our Love Tyneside appeal, which was announced in 2023 as we struggled to stay afloat. The generosity of our supporters helped us raise over £100,000. It’s an incredible result and a wonderful demonstration of how special the Tyneside is to so many people.

We have also seen our audience grow by over 15% in the past year. New people discover and fall in love with our venue every day, and customers both new and old are vital for our long-term future.

It has been incredibly complicated to restructure our finances, a result which has taken 12 months of hard work and which we’re delighted to be able to announce now. The donations you have made in that time, and all the tickets, memberships, popcorn, food and drinks you have bought have made a real difference, buying us the time we needed to get here.

We would not have gotten to this point without you. Thank you so much for your support.

This really is a new era for the Tyneside. Securing this funding gives us the foundation we need not just to continue the Tyneside’s incredible history, but to build a vibrant and exciting future for audiences old and new.

We will harness the passion so many have for the Tyneside, driving it forward so that it is not just a sustainable, independent cinema but a real magnet for audiences, a place of wonder and excitement for people of all ages, and audiences from all backgrounds.

Our aim now is to ensure that there are even more reasons to come to the Tyneside, with a new programme of events coming, and some surprises up our sleeves. Despite all the love and loyalty we receive, we can only keep the doors open if people use the venue. Film will always be our focus, but we have plans for other magical, unique experiences that you just won’t get anywhere else.

The Tyneside also plans to expand its activities within the community, including focusing on ways to foster creativity and creative sector skills in people of all ages, working with partners like North East Screen and Generator. We are also working with New Writing North and the North East Combined Authority to deliver a Screenwriter in Residence programme, offering a six-month residency for a writer based at the Tyneside to create new work.

We have lots of great ideas on ways we can enrich the cultural and creative life of the city and the region – as well as giving people a cracking night out – and we can now start the process of delivering those plans.

The money we have raised is a loan. It has to be paid back. With interest!

Right now, we are still loss-making. Over the last year, we have had to make some difficult decisions, including reducing (temporarily) the scope of what we can do as a charity. Losses have been reduced by 65%. But in the year leading up to March 2024, we still lost a six-figure sum.

But we have a robust plan. We will become even more efficient in the way we operate. We will invest in new initiatives that will help us grow. And in two years, we plan to have eliminated our operating deficit, starting then to generate surpluses to support our charitable objectives.

There are several things you can do to make sure the Tyneside continues to be the special place you know and love:

⭐ Most importantly keep coming here to enjoy the range of films we show. It’s the heart of what we do.

⭐ Feeling hungry or thirsty or just want a treat? We have something for everyone at our Bar Cafe and Vicolo, as well as great deals at our cinema concession points.

⭐ Tell your friends and family all about the Tyneside. Even better, bring them with you!

⭐Want the big screen experience in a more intimate setting with friends or the special person in your life? Our Digital Lounge is available for private hires and parties.

⭐ Is your workplace looking for a great venue for a customer or staff event? Or a team night out? We have packages to suit every budget.

Find our Hires & Events contacts and brochure here.

⭐ We are a charity! Donations are vitally important to us, helping us to bring film to everyone in our community and present new opportunities to people of all ages, from all backgrounds.

You can find a link to our donations page here.

Please get in touch, talk to us, visit us, and support us to help make sure we all keep working towards ensuring this special place is around for generations to come. The Tyneside is and will continue to be a place for everyone.

We will be launching a new, ongoing fundraising campaign in July, so keep your eyes peeled for how you can help support and secure the future of the Tyneside.

I joined the Tyneside just four months ago. It’s been an unforgettable journey already. I didn’t think it was possible for a place and its people to truly get under your skin in such a way that I now describe my role here not as being CEO, but as custodian.

This job is a privilege and my one and only aim is to ensure this extraordinary place is here for future generations. I’d like to thank the people of Newcastle for such a warm and generous welcome.

If you’ve read this far…well done! I will be letting you know about more exciting developments in the coming months as the Tyneside goes from strength to strength.

Nic Greenan

CEO/Custodian