Rogue Heroes producer talks up full-year results achieved despite industry “headwinds”
Banijay Group has seen revenues across its Entertainment and Live arms rise to €3.35bn (£4bn) in 2024, amid a largely flat set of full-year results across its production and distribution divisions.
Banijay Entertainment, which is behind shows ranging from Rogue Heroes to MasterChef and Culpa Tuya, saw production revenues fall 2.8% year-on-year to €2.61bn, alongside a 0.4% increase in distribution to €397m.
The slight decline across the two divisions was offset by Banijay’s live experiences & other segment, driven by Balich Wonder Studio, which saw revenues up almost 42% to €336m.
That pushed total revenue across Banijay Entertainment and Banijay Live up by less than 1% to €3.35bn, while adjusted EBITDA grew 6.6% to €528m (at constant exchange rates).
Banijay talked up the results, admitting that they were achieved despite “headwinds” in the industry.
The company described 2024 as “a challenging year for the TV content industry as major streaming platforms reduced their spending and prioritised their return to profitability,” adding that broadcasters in some countries cut commissioning volume.
“Despite that context, content production revenue in 2024 stood at €2.615bn, down 2.8% compared to 2023 with a rebound of +6.2% in Q4 2024 due to the phasing of major scripted show deliveries,” it said.
The company added that it expected mid-single digit growth for content production and distribution in 2025, and would focus on gaining further market share with streamers, leveraging its travelling formats and extending scripted distribution.
The Marco Bassetti-led Banijay Entertainment pointed to new commissions including Carême on Apple TV, Las Sabinas on Disney+, and Culpa Tuya on Prime Video as key titles.
It also highlighted HBO Max’s Like Water for Chocolate and La Vita che Volevi on Netflix, as well as Deal or No Deal Island on NBC and MasterChef: Dessert Masters in Brazil, which marked the first international adaptation for the format.
Bassetti said 2024 had positioned the organisation as the largest European scripted studio, while it was behind more than 250 unscripted productions.
He added: “2024 saw Banijay Entertainment, inclusive of Banijay Live, continue to demonstrate its strength and market-leading position in what has been commonly recognised as a challenging market environment.
”Overtaking €3.3bn 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%.
“Broadening the offering with the likes of Caryn Mandabach Productions, we continued to strategically diversify the portfolio – with Banijay Live delivering a broad spectrum of 119 events – while maintaining the effectiveness, and efficiency of the model the group was built on.
“As we start accelerating through 2025, our goal remains simple - maintain our lead and be the number one partner for clients, the number 1 home for creatives, and the number 1 powerhouse for IP, live events and experiences.”
The French company’s results followed those from ITV this morning, which revealed that its production and distribution arm ITV Studios saw total revenue fall 6% to £2bn, although EBITA was up by 5% to £299m in 2024.
Across the Banijay Group, including its online sports betting and gaming operations, revenues were up 10.9% to €4.80bn with adjusted EBITDA increasing 21.6% to €900m.
No comments yet