Revenue & Profit Gains for Banijay

Banijay’s 2023 revenues rose by 6 percent to €3.3 billion ($3.6 billion), with adjusted EBITDA up by 7 percent to €494 million ($540.8 million) at constant exchange rates.

“2023’s results are once again testament to the ongoing strength and resilience of our group,” said Marco Bassetti, CEO. “Against the backdrop of challenging market conditions and strong economic headwinds, our talent united to deliver on target. Reinforcing our competitive edge in the market and continuing to expand the business into complementary fields, through the year, we executed 14 acquisitions and investments, and broadened our capabilities in live events via the Balich Wonder Studio acquisition; sports and branded content with the launches of Banijay Sports and Banijay Branded Entertainment respectively; and digital, incorporating moves in AI; and in doing so, illustrated the power of a diversified operation in reaching our ambitious goals.”

Bassetti added: Maintaining and broadening our client base thanks to a truly global and platform agnostic status, we considerably lifted our activity with streamers worldwide, while supporting the linear landscape, and across the board, launched over 70 new scripted titles, over 200 new non-scripted titles, plus 115 new pilots, mini pilots and proof of concepts. Demonstrating the huge creative value of our 23-territory footprint and sizeable distribution reach, which gives us the advantage of proximity to local commissioners, the group has remained strategically agile, while consistently delivering, and fiercely retaining, quality, changemaking, returning IP and live events for audiences across the world. And, into 2024, we will remain focused on safeguarding our core business, driving organic growth, and adapting our corporate structure to current market reality.”

FL Entertainment, the parent company of Banijay, also reported improved results, with revenues up 8.5 percent to €4.5 billion ($5 billion). François Riahi, CEO of FL Entertainment, commented: “We delivered record results in 2023, powered by the continued strong performance of both businesses. Since we listed two years ago, we have increased our revenue by 30 percent and our adjusted EBITDA by 26 percent, illustrating the strength of our business model. During this time, our revenues with OTT players in content production have increased by 75 percent, and we have also expanded our activities into the live experiences space through M&A, which will contribute to growth moving forward.

Riahi continued, “In content production and 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. We are also developing opportunities in exciting areas like sports entertainment, while further monetizing our IP through digitalization 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.”