Banijay Entertainment revenues slip after All3Media merger
Banijay Entertainment posted €1.37 billion in first-half revenue as production fell, with All3Media figures due from Q3.
By Poppy Nakagawa · Culture Writer
3 min read
Banijay Entertainment revenues edged lower in the first half of 2026, with the European production group posting €1.37 billion, or $1.56 billion, in its first update since combining with All3Media.
Banijay said sales were down 2.2% from the same six-month period in 2025. The company attributed the dip to expected timing shifts in production and distribution activity.
Why did Banijay Entertainment revenues fall?
The company said production revenue dropped 11.9%, while distribution revenue rose 10.5%. Banijay said the distribution gain was helped by a format sale during the first quarter.
Banijay expects performance to improve in the second half of the year, with the fourth quarter set for notable activity, according to the company.
The new All3Media business is not yet reflected in those entertainment figures. Banijay said All3Media’s financials will start appearing in quarterly reports from the third quarter.
What changed after the All3Media deal?
Banijay completed the merger of its entertainment arm with RedBird IMI’s All3Media earlier this month, creating a combined company that Banijay Entertainment Chair Jeff Zucker has described as the largest independent producer ever formed.
The enlarged group brings together titles including MasterChef, Big Brother, The Traitors, Peaky Blinders, Midsomer Murders and Gogglebox. Banijay said the combined library totals more than 265,000 hours of programming.
The transaction gave Banijay Group €801 million, made up of a €625 million payment from RedBird IMI and a €176 million pre-closing dividend. Banijay and RedBird IMI now hold equal stakes in the new Banijay Entertainment.
The leadership team is headed by Marco Bassetti as CEO. Jane Turton, previously CEO of All3Media, is Deputy CEO, while Zucker, who is also CEO of RedBird IMI, serves as chair.
Banijay also said shareholders will receive an exceptional dividend of €400 million following the deal, equal to €0.93 per share. The company first disclosed that plan when the All3Media agreement was announced in March.
The group added that a seven-year €750 million loan secured last month will be used to refinance All3Media’s outstanding senior facilities, cover transaction fees and fund certain merger-related dividends.
How did Banijay Group perform overall?
Across Banijay Group, first-half revenue came in at €2.58 billion, up 16.9% year on year on a reported basis. Adjusted EBITDA rose 18.5% to €502.9 million, while adjusted net income fell 3.7% to €141.5 million.
Banijay Group includes Banijay Entertainment and a live events business. The live events unit’s revenue rose nearly 50%, which the company linked to the Winter Olympic Games and the FIFA World Cup.
The sports betting and gaming division reported €1.21 billion in revenue, putting it just behind entertainment. Banijay said that unit is integrating Tipico, bought in a multi-billion dollar deal last October, and is working on the acquisition of JOA, France’s second-largest casino operator.
“2026 is definitely a transformational year for Banijay Group,” Banijay Group CEO Francois Riahi said, citing the Tipico acquisition, the All3Media combination and the proposed JOA deal as moves that give the group more scale, more geographic spread and broader distribution channels.
This story draws on original reporting from Deadline.