Banijay posts revenue & profit rise despite ‘challenging’ conditions

The Law According to Lidia Poët

Banijay has seen its revenues rise 6% over the past year despite “challenging market conditions”, with its shift into live events helping to support small rises in distribution and production.

The French company’s parent, FL Entertainment, unveiled its full-year results yesterday and said Banijay’s revenues had hit €3.3bn ($3.6bn) for 2023 while profits increased by 7% to €494m.

Production was up less than 1% on 2022 to reach €2.69bn, while revenue at distribution arm Banijay Rights – whose catalogue now stands at 185,000 hours – rose 2% to hit €395m, up from €388m in 2022.

The shift into ‘live experiences’, notably with the purchase of Balich Wonder Studio last summer, supported group revenue growth and brought in €237m across the year, a rise of almost 49% pre-acquisition.

Banijay adapting to ‘challenging market conditions’

Banijay CEO, Marco Bassetti, talked up the results against “the backdrop of challenging market conditions and strong economic headwinds…” but admitted that the company would be “adapting our corporate structure to current market reality” throughout 2024, while focusing on “safeguarding our core business and driving organic growth.”

Big Brother Poland

He added that Banijay had launched more than 70 new scripted titles over 2023, along with more than 200 new unscripted titles.

The company also highlighted ongoing streamer demand, with both local and global operators seeking “more local / non-English content” and sports docs, pointing to shows such as Netflix’s The Law According To Lidia Poët, produced by Groenlandia, and Four Kings on Prime Video in the UK.

Banijay also confirmed it had embarked on refinancing its debt, which stands at north of €2bn with most loans now maturing in 2028 or 2029.

The Marco Bassetti-led firm said it was also expanding efforts to reach younger demos on digital and social platforms – pointing to a Big Brother Germany spin-off that received 8.8m live views on Twitch – and was using AI “to further monetise content” on social media and video services.

François Riahi, CEO of FL Entertainment, added: “In content production & distribution, 2023 illustrated our strengths in more challenging macroeconomic conditions, powered by our iconic brands like Big Brother and Star Academy, the depth of our content catalogue, and new scripted and non-scripted formats that are in demand from both linear and streaming clients across the globe.

Marco Bassetti

“We are also developing opportunities in exciting areas like sports entertainment, while further monetising our IP through digitalisation and content indexing, which represents a new avenue for growth.

“Our diversification into the fast-growing live experiences market is also helping us to become a true multi-disciplinary creative heavyweight.”

In related news, Banijay has also unveiled the winners of its Banijay Launch program, which coincides with International Women’s Day.

Amber Kane and Emily Wilson were named joint winners of the prize, which is designed to exclusively support women creators with promising unscripted formats.

The scheme was unveiled at MIPCOM and received 500+ applications from 30+ territories, with finalists assembling in London on 6 March for the grand finale, where they pitched their ideas to a jury including Endemol Shine North America CEO, Sharon Levy.

Kane, a freelancer from Australia, won with her “high-octane variety talent concept” Double Act, while Wilson presented a psychological dating format titled Can’t Buy My Love. Kane and Wilson will now work with Banijay and its Creative Networks arm to develop their ideas into full pledged projects.