Banijay Reports Strong Q1 Earnings in 2024

Banijay Group, the European TV production giant known for hit shows like Peaky Blinders and MasterChef, reported lower first-quarter revenue for 2024. The parent company, FL Entertainment Group, disclosed the news on Wednesday and also announced a rebranding to Banijay Group.

The rebranded Banijay Group saw a quarterly revenue of $1.0 billion euro ($1.1 billion), marking a 10.6 percent increase over the year-ago period. However, content production revenue was down 2.3 percent, and distribution revenue was down 12.5 percent at the Paris-headquartered Banijay media and entertainment business.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the total group jumped 11.2 percent to 164 million euro ($178 million). The company also raised its full-year 2024 guidance for organic adjusted EBITDA growth to the low teens percentage range.

Banijay Group highlighted the anticipated growth across all business segments, with a strong pipeline of scripted show deliveries expected in the fourth quarter of 2024. This includes the highly anticipated shows Marie-Antoine for Canal+ in France and SAS Rogue Heroes for BBC One in the U.K.

The company’s content catalog expanded by 30 percent in 2022 to 160,000 hours, showcasing its commitment to delivering quality entertainment. Banijay Group also includes other businesses like sports betting and gaming firm BetClic Everest, further solidifying its position in the entertainment industry.

With this strategic rebranding, Banijay Group aims to position itself as a European entertainment leader, reflecting the synergy potential between its existing activities and its ambition for future growth.