Banijay Entertainment, the production giant behind hits such as Peaky Blinders, Black Mirror and Big Brother, reported a 2.2 percent decline in first-half revenue in its first financial update since completing its major merger with All3Media (The Traitors, Squid Game: The Challenge). The dip reflected lower production volumes rather than any effect of the merger, since All3Media's financials will only be incorporated from the second half of the year onwards. The figures served as an early gauge of the newly combined production and distribution group's standalone performance ahead of expected merger synergies, with chief executive François Riahi calling 2026 "a transformational year" for parent company Banijay Group.

Revenue fell to €1.37 billion ($1.56 billion), with production revenue down 11.9 percent due to what the company called "anticipated phasing" in output, while distribution revenue rose 10.5 percent, boosted by an undisclosed format sale in the first quarter. Banijay said it expects production and distribution revenue to normalise by year-end. Separately, Banijay Group's live events business, reported alongside these results, saw revenue jump 49.8 percent, driven by the Winter Olympics and the FIFA World Cup, with Riahi noting that integration work between the two business units would begin delivering synergies in the second half of the year.