Banijay reports lower first-half revenue ahead of All3Media merger impact
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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.
- Banijay Entertainment's H1 revenue fell 2.2% to €1.37bn ($1.56bn)
- Decline reflects lower production, not the new All3Media merger
- Group's live events arm grew 49.8% on Olympics and World Cup
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Banijay Entertainment is one of the world's largest television production and distribution companies, with a catalogue that includes shows such as Peaky Blinders, Black Mirror and Big Brother. Earlier this year it completed a major merger with All3Media, another big production company known for The Traitors and Squid Game: The Challenge, bringing the two businesses together under one group.
The financial results being reported now are the first update since that merger was completed, though All3Media's own figures are not yet included and will only be folded in from the second half of the year. That makes this report an early indicator of how the enlarged company is performing on its own, before the effects of combining with All3Media become visible.
These results matter because they give investors, industry watchers and the media sector a first proper look at the financial health of one of the biggest players in global television, at a time when the wider industry is adjusting to changes in production levels and how content is distributed and sold internationally.
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Originally published by The Hollywood Reporter as “Banijay Entertainment First-Half Revenue Drops 2 Percent in First Post-All3Media Deal Update”.