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## Banijay Group Reports Lower First-Quarter Revenue

European TV production giant Banijay (Peaky Blinders, Black Mirror, MasterChef, Survivor) reported lower first-quarter 2024 revenue, with its parent company FL Entertainment Group disclosing the results on the Amsterdam stock exchange. The parent company also announced a rebranding as Banijay Group, effective immediately.

The total revenue for the rebranded Banijay Group reached $1.0 billion euro ($1.1 billion), showing a 10.6 percent increase compared to the previous year. Despite this growth, content production revenue decreased by 2.3 percent, and distribution revenue dropped by 12.5 percent in constant currencies. Banijay media and entertainment business, led by CEO Marco Bassetti and chairman Stéphane Courbit, saw these declines, but the live experiences division, Banijay Live, experienced a 3.1 percent increase in revenue.

With adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rising by 11.2 percent to 164 million euro ($178 million), the full group adjusted its full-year 2024 guidance for organic adjusted EBITDA growth to the low-teens percentage range from the high single-digit range. Banijay expects continued growth across all business segments, particularly in online sports betting and gaming, with a strong pipeline of scripted show deliveries anticipated in the fourth quarter of 2024.

Banijay Group, previously known as FL Entertainment, encompasses various businesses such as sports betting and gaming firm BetClic Everest. The company has expanded through acquisitions, including Zodiak Media in 2016 and Endemol Shine Group in 2020. FL Entertainment Group became publicly traded on the Euronext Amsterdam stock exchange in July.

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