Banijay Entertainment revenues down as ‘disciplined’ market bites

Banijay Entertainment has seen revenues from production and distribution dip over the past 12 months, as chief exec Marco Bassetti reflected on a “monumental week” following the company’s merger with All3Media.

Bassetti said the “strategic rationale” behind the merger was “amplified” by its full-year results, which showed production revenue down almost 4% from €2.6bn (£2.3bn) to €2.5bn (£2.2bn), and distribution dipping more than 7% from €397m (£344.8m) in 2024 to €368.3m (£319.9m) for 2025.

The Buccaneers and MasterChef owner put the decline down to “a disciplined commissioning environment”, with Bassetti’s division – which includes experiences arm Banijay Live – reporting total revenue of €3.3bn (£2.9bn) and ajusted EBITDA of €544m (£472.5m), up from €528.3m (£458.9m) last year.

Bassetti said: “While this year’s results sit against a backdrop of complicated market conditions, they demonstrate the value of scaled creativity, an expansive footprint, first-class talent, and a diversified strategy.”

The company said it had delivered more than 16,000 hours of content and launched more than 80 titles with global streamers, citing House of Guinness, Culpa Nuestra, Mrs Playmen and Last One Laughing UK. Banijay Live was also behind the Winter Olympic Games Opening Ceremony.

“In a consolidating market, scale matters, and the new combination will only enhance our ability to attract and retain great talent, monetise our IP via digital and live, and increase our investment in creativity and new technologies,” Bassetti continued, building on comments made to Broadcast International earlier this week.

“Now more than ever, we need to build a resilient media and entertainment powerhouse designed for long-term growth.”

Banijay Entertainment and All3Media unveiled their agreement to merge operations on Tuesday evening, with Bassetti set to be installed as chief exec and All3’s Jane Turton taking a deputy role. The company will be jointly owned by Banijay Group and All3 owner RedBird IMI as a 50/50 venture. RedBird IMI’s chief exec, Jeff Zucker, will be chairman.

The combined entity will be the world’s largest production group outside of the US and would have generated more than €4.4bn (£3.8bn) in revenue and €690m in adjusted EBITDA on a 2024 pro forma basis. Its footprint will encompass more than 170 creative labels across 25 countries, operating in all major English-language geographies with around 20,000 hours produced annually.

The enlarged outfit will be part of Banijay Group, which includes gambling firms BetClic and recent acquisition Tipico. Revenues across the entire Banijay Group were up 1.6% and adjusted EBITDA rose almost 7% to €961.1m (£834.8m) with operating profit nudging €641m (£556.8m).

François Riahi, chief exec of Banijay Group, added: “In a year marked by a challenging production backdrop and a softer sports calendar, our diversified model once again demonstrated its growth potential.”