Banijay Entertainment H1 Revenues Dip in First Earnings Update Since Completion of All3Media Deal
Banijay Entertainment has posted it first financials since its mega-merger with All3Media was completed. Meanwhile, Banijay Entertainment’s production...
Key points
- Banijay Entertainment has posted it first financials since its mega-merger with All3Media was completed.
- Meanwhile, Banijay Entertainment’s production revenue dropped 11.9 percent, with the company citing “anticipated phasing in production.” But distribution revenue rose 10.5 percent, something it said was “fueled in particular by a format sale in the first quarter” without detailing the particular format in question.
- Popular on Variety There was an unprecedented growth in Banijay’s live event business, which is grouped with Banijay Entertainment, where revenues soar almost 50% thanks to both the Winter Olympic Games and FIFA World Cup.
- “In Entertainment & Live, record live activity and continued momentum across our content portfolio in distribution partly offset the anticipated phasing of content production, demonstrating the strength and diversification of our business model.” Earlier this month, Banijay completed the merger of its entertainment arm with RedBird IMI’s All3Media to create an $8 billion Goliath, with the combined group — housing shows such as “The Traitors,” “Big Brother” and “Peaky Blinders” — spanning 25 territories and housing one of the largest content catalogues in the industry, with more than 265,000 hours of content.
What happened
Banijay Entertainment has posted it first financials since its mega-merger with All3Media was completed. Meanwhile, Banijay Entertainment’s production revenue dropped 11.9 percent, with the company citing “anticipated phasing in production.” But distribution revenue rose 10.5 percent, something it said was “fueled in particular by a format sale in the first quarter” without detailing the particular format in question. Popular on Variety There was an unprecedented growth in Banijay’s live event business, which is grouped with Banijay Entertainment, where revenues soar almost 50% thanks to both the Winter Olympic Games and FIFA World Cup. “In Entertainment & Live, record live activity and continued momentum across our content portfolio in distribution partly offset the anticipated phasing of content production, demonstrating the strength and diversification of our business model.” Earlier this month, Banijay completed the merger of its entertainment arm with RedBird IMI’s All3Media to create an $8 billion Goliath, with the combined group — housing shows such as “The Traitors,” “Big Brother” and “Peaky Blinders” — spanning 25 territories and housing one of the largest content...