Banijay targets franchise growth ahead of All3Media merger

By Leo Marchandon and Mathias de Rozario

March 5 - French entertainment group Banijay BNJ.AS on Thursday flagged franchise growth beyond TV and into live events as major growth drivers for 2026 and beyond, ahead of merging its operations with All3Media.

CEO François Riahi said Banijay's content franchises are increasingly generating value well beyond the screen, citing 'Black Mirror', which is being adapted into live immersive experiences in 2026, as a sign that the group's strongest IP can be monetised across entirely new entertainment formats.

"We have a gold mine that we're not fully exploiting," he told reporters in a call. He pointed to the fierce bidding war between Paramount PSKY.O and Netflix NFLX.O over Warner's WBD.O portfolio as evidence.

"That gives you an idea of how fundamental IP is today," he added.

The company said its production consolidated revenue rose 0.4% excluding currency effects to 3.29 billion euros ($3.81 billion) in 2025, while its online betting consolidated revenue grew 10.2% to 1.59 billion euros.

GROWTH IN GAMING DIVISION

While its gaming division, which operates betting platforms Betclic, accounted for about one-third of group revenue in 2025, it contributed almost half of profitability.

Its combined earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 8.6% to 961 million euros in 2025.

The division is expected to benefit in 2026 from sporting events including the soccer World Cup, Riahi said. He said the focus for Betclic, and newly acquired Tipico, would be winning new customers.

Banijay will provide its mid-term financial guidance during its strategic update on March 26, to include the impact of its recent acquisitions.

($1 = 0.8633 euros)