Yahoo News Banijay’s Parent FL Entertainment Boosts Revenue to $5.8 Billion in 2023
Banijay, the French-headquartered TV production and distribution powerhouse behind hits including “Survivor” and “Peaky Blinders,” posted revenues of €3.3 billion (a growth of 6%) and an adjusted EBITDA of €494 million (taking into account fluctuating exchange rates) Thursday.
The company is owned by FL Entertainment, which also posted profits on Thursday showing revenues of €4.5 billion ($5.8 billion) two years afters making its debut on the Amsterdam stock market.
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FL Entertainment saw its revenue climb by 13.8% (adjusted to 8.5% when taking into account currency fluctuations). EBITDA grew by 15% to €756 million in 2023. In 2022 the media conglomerate, which also comprises gambling business Betclic, was listed in Amsterdam through the specially-created company.
Banijay has been on something of a buying spree of late, acquiring U.K. scripted prod-co The Forge (“Becoming Elizabeth”) in 2023 and acquiring a minority stake in Eva Longoria’s multi-platform media company Hyphenate Media Group. In 2020 it paid $2.2 billion for the Endemol Shine Group.
“We delivered record results in 2023, powered by the continued strong performance of both businesses. Since we listed two years ago, we have increased our revenue by 30% and our adjusted EBITDA by 26%, illustrating the strength of our business model. During this time, our revenues with OTT players in content production have increased by 75%, and we have also expanded our activities into the live experiences space through M&A, which will contribute to growth moving forward,” said François Riahi, CEO of FL Entertainment.
“In content production and distribution, 2023 illustrated our strengths in more challenging macroeconomic conditions, powered by our iconic brands like ‘Big Brother’ and ‘Star Academy,’ the depth of our content catalogue, and new scripted and non-scripted formats that are in demand from both linear and streaming clients across the globe. We are also developing opportunities in exciting areas like sports entertainment, while further monetizing our IP through digitalization and content indexing, which represents a new avenue for growth. Our diversification into the fast-growing live experiences market is also helping us to become a true multi-disciplinary creative heavyweight.”
Banijay CEO Marco Bassetti added: “2023’s results are once again testament to the ongoing strength and resilience of our group. Against the backdrop of challenging market conditions and strong economic headwinds, our talent united to deliver on target, with +6% revenue growth to €3.3 billion, and around +7% Adjusted EBITDA growth to €494 million at constant exchange rates, driving a high level of profitability – 14.9%; stable year-on-year.
“Reinforcing our competitive edge in the market and continuing to expand the business into complementary fields, through the year, we executed 14 acquisitions and investments, and broadened our capabilities in live events via the Balich Wonder Studio acquisition; sports and branded content with the launches of Banijay Sports and Banijay Branded Entertainment respectively; and digital, incorporating moves in AI; and in doing so, illustrated the power of a diversified operation in reaching our ambitious goals.”
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