European TV production giant Banijay (Peaky Blinders, Black Mirror, MasterChef, Survivor) recorded a slight decline in full-year 2024 revenue for both its content production and content distribution businesses on a constant currency basis, Amsterdam stock exchange-listed parent company Banijay Group disclosed on Thursday.
The producer’s corporate parent disclosed that Paris-headquartered Banijay‘s annual production revenue dropped 2.8 percent on a constant currency and also a reported basis to 2.6 billion euro ($2.8 billion). Content distribution revenue was down 1.5 percent assuming constant currencies, or up 0.4 percent on a reported basis, at 397 million euro ($429 million).
However, when including live experiences division Banijay Live, which focuses on the production of institutional ceremonies and live events in the sports, luxury and fashion industries, revenue for the combined content and live experiences division rose 0.5 percent on a constant currency basis and 0.8 percent on a reported basis to 3.3 billion euro ($3.6 billion). Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 6.6 percent to €528 million ($571 million) when assuming constant exchange rates.
Banijay Entertainment is led by CEO Marco Bassetti. “2024 saw Banijay Entertainment, inclusive of Banijay Live, continue to demonstrate its strength and market-leading position in what has been commonly recognized as a challenging market environment,” he said. “The combined business illustrated resilient [revenue], while ramping up its bottom line. A scaled content powerhouse, the last 12-months saw the business rise to be the largest European scripted studio – alongside its long-standing position as a leader in non-scripted (250-plus launches in ‘24) – increasing activities in non-English-language, and acting as a key partner for streamers (80 non-scripted and scripted launches in ‘24), delivering award-winning, high-ranking shows across the board.”
Bassetti added: “Broadening the offering with the likes of Caryn Mandabach Productions, we continued to strategically diversify the portfolio.”
Banijay Entertainment touted such new commissions as Carême on Apple TV+, Return to Las Sabinas on Disney+, and Your Fault (Culpa Tuya) on Prime Video. “Many series attracted large audiences, including Like Water for Chocolate, which ranked first among Spanish-language content on HBO Max and remained in the top 10 most-watched programs in 35 countries during the month following its release,” the company said. “Iconic brands continued to enjoy great success, with a second season of SAS Rogue Heroes commissioned by BBC, with season 1 already sold to 180 territories globally; a second season of Marie-Antoinette by Canal+/BBC, with season 1 already sold to 149 territories globally. The group is also working on a Peaky Blinders film adaptation on Netflix.”
Looking at the current year for its content production and distribution division plus live experiences, Banijay forecast revenue growth in the mid-single digit percentage range. It also said that it was “focused on gaining further market share with streamers, leveraging its traveling formats, bolstering its distribution (of) scripted titles, and expanding monetization efforts through an all-new content hub supported by cloud infrastructure and AI technologies.”
And the company predicted: “Given the improved financial situation of the global streamers, and the stability of broadcasters, we expect the return of growth in 2025 for the market.”
Concluded Bassetti: “As we start accelerating through 2025, our goal remains simple – maintain our lead and be the number 1 partner for clients, the number 1 home for creatives, and the number 1 powerhouse for IP, live events and experiences.”