Banijay Group, the listed banner previously named FL Entertainment whose content production and distribution arm is behind “Big Brother,” “Versailles” and “SAS Rogue Heroes,” saw its revenues rise by 8.6% to €2 billion ($2.1 billion) over the first half of 2024.
While revenues from online sports betting and gaming skyrocketed by 41.7% to €698 million during the first half, those from content production, distribution and live events dipped by 2.7% to €1.4 billion. The banner said these results reflected “anticipated amplified seasonality of major scripted show deliveries” and the “consolidation of Balich Wonder Studio,” a live event company which has organized several Olympics’ ceremonies.
Banijay has continued ramping up its footprint in the event production space and has partnered with luxury fashion houses around events such as the Vogue World show in Paris. Banijay’s outfit The Independents has also consolidated with the acquisitions of two major consultancy firms for brands, Sunshine and Kennedy.
As a whole, Banijay Group saw its adjusted net income up go up by 13.9% at current currencies to €191 million and net income at €40 million (compared with €12 million during the first half of 2023). The company’s EBITDA went up by +11.7% to €368 million with EBITDA margin at 14%.
François Riahi, CEO of Banijay Group, said the first half of 2024 “demonstrates once again the unique positioning of Banijay Group within the entertainment industry, with a double-digit growth in earnings.”
“Our online sports betting and gaming business delivered outstanding performance, taking advantage of a busy sports calendar to gain market shares across all products and geographies,” said Riahi.
The executive also said the demand from streaming platforms remained consistent. He pointed out the group, whose upcoming titles include season 3 of the period series “Versailles,” boasts a “strong pipeline of scripted shows and solid growth in content production and distribution.” The group’s recent acquisitions in the content and distribution landscape include include Caryn Mandabach Productions, the outfit behind “Peaky Blinders.” It also struck a development deal with Marc Pos, the creator of popular reality TV show “The Traitors.”
He also said Banijay’s pipeline of upcoming live events is “robust” and it “continues to look for opportunities to consolidate this fast-growing segment of the entertainment industry.”
Riahi said he was confident Banijay Group was on track to meet its full-year earnings target of an “organic Adjusted EBITDA growth in the low teens.”