Banijay Group, the listed company which comprises film and TV production, distribution, live entertainment and gaming, posted record results for 2024 which reached €4.8 billion (5.2 billion).
Banijay’s adjusted EBITDA was also up by 22% to €900 million ($971 million), and saw an acceleration in the last quarter with 32.8% spike, while adjusted net income also rose by 29.3% at current currencies to €418 million.
Banijay’s French-headquartered TV production and distribution division, which is behind hits including “Survivor” and “Peaky Blinders,” and the live entertainment division, posted flat results of €3.3 billion ($3.5 billion). Content production revenue in 2024 stood at €2.6 billion ($2.8 billion), down 2.8% compared to 2023. The last quarter of 2024 was up 6.2% thanks to major scripted show which were delivered at the end of the year.
In unveiling its results, Banijay said 2024 was a though year for the TV content industry as “major streaming platforms reduced their spending and prioritized their return to profitability, primarily impacting premium English scripted content.” However, labels within Banijay did score new commissions in 2024, notably “Carême” on Apple TV, “Las Sabinas” on Disney+, and “Culpa Tuya” on Prime Video.
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Banijay-produced hits included “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; as well as “Supersex” on Netflix and “Brocéliande” on TF1. The company’s slate of prestige content slated for 2025 include a “Peaky Blinders” film adaptation on Netflix. In terms of content distribution, six legacy formats ranked among the top 20 most-traveling TV formats worldwide, including “Deal or No Deal,” “MasterChef,” “Big Brother” and “Survivor.”
“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,” said Banijay Entertainment’s CEO Marco Bassetti.
“Overtaking €3.3 billion in revenues, the combined business illustrated a resilient top-line, while ramping up its bottom line, closing the year with an adjusted EBITDA margin of 15.8%,” Bassetti continued. He said the company has become the “largest European scripted studio – alongside its long-standing position as a leader in non-scripted – increasing activities in non-English-language, and acting as a key partner for streamers.”
François Riahi, CEO of Banijay Group, pointed out Banijay’s “results are well ahead of full year guidance.”
Over the year, the company also pursued its M&A strategy through the acquisition of Caryn Mandabach Productions, the company behind several highly acclaimed drama hits including “Peaky Blinders.” It also partnered with Amazon MGM Studios to develop “Totally Spies!,” a live action series based on the popular classic French cartoon; and it acquired Procidis, the France-based production company behind the educational animation franchise “Once Upon a Time.”