Banijay’s Parent FL Entertainment Makes Stock Market Debut With Revenue Growth to $4.2 Billion in 2022

Banijay, Stéphane Courbit’s TV production and distribution powerhouse behind “Survivor” and “Peaky Blinders,” has made a vibrant debut in the Amsterdam stock market.

The Paris-headquartered company, which took over Endemol Shine Group in 2020 in a splashy $2.2 billion deal, saw its revenue climb by 16.5% – or 13.3% at constant currency — to €3.21 billion ($3.4 billion) in 2022. While its profit margin fell by 1% to 14.7%, Banijay’s earnings before interest, tax and amortization (EBITDA) grew by 9% to €472 million ($501 million) in 2022. A bullish performance compared with its rival Fremantle whose EBITDA reached €162 million after rising by 15% during the same period.

More from Variety

• 'Marie Antoinette,' Canal+'s Lavish Costume Drama, Renewed for Season 2 (EXCLUSIVE)

• 'Good Omens' Producer Chris Sussman Signs First Look Deal With Banijay U.K.

• Banijay Rights Unveils Powerhouse London TV Screenings Lineup (EXCLUSIVE) 

Banijay was listed last year through a newly-created special purpose acquisition company named FL Entertainment. The banner comprises both Banijay and Courbit’s online gambling group Betclic. As a whole, FL Entertainment’s yearly revenue rose by 13.2% at constant currency to €4 billion ($4.2 billion).

Banijay’s strong financial results were bolstered by its content production and distribution activities. The banner’s library of content grew by 30% to 160,000 hours, while revenues from streaming
platforms rose by 61%.

Banijay also expanded its footprint with 15 acquisitions across 10 territories.  These include many high-profile labels, notably Alain Goldman’s Légende Films in France (renamed Montmartre Films), and U.K. banner Kindle Entertainment, whose credits include the Netflix show “The A List.”

“2022 was an outstanding year for FL Entertainment,” said François Riahi, CEO of FL Entertainment.

Riahi said the company’s “strong profitable growth” in content production and distribution was linked to both new scripted series such as “Marie-Antoinette” and “SAS Rogue Heroes,” as well as flagship unscripted IP such as “Masterchef,” “Big Brother” and “Survivor,” which he said “are
relaunching in key markets and entering new territories.”

The executive said FL Entertainment will look to “continue to demonstrate its proven ability to delivery profitable growth at scale.”

Best of Variety

• All Best Actress Oscar Winners in Academy Award History

• Final Oscars Predictions: Animated Short - Will the Academy Go for 'The Boy' or 'Dicks?'

• Final Oscar Predictions: Documentary Short - Will the Academy Go for Malala or 'Elephants?'

Sign up for Variety’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.

Click here to read the full article.