Banijay Group Eyes 2025 Growth Despite French Tax Challenges

Banijay Group aims for continued growth in 2025 despite facing new regulatory challenges in France. In the firm’s 2024 earnings call, CEO François Riahi said he was confident in Banijay’s potential to leverage its success, highlighting robust performance in all core segments like content production, live events, and online sports betting and gaming.

Banijay Enjoys Robust Momentum

2024 was a record-breaking year for Banijay. Revenue surged by nearly 11%, reaching €4.8 billion ($5.24 billion), with the final quarter of 2024 showing even higher acceleration. Adjusted EBITDA increased even more spectacularly, surging over 21% to €900 million ($983 million), with net income more than doubling to €155 million ($169 million). These impressive financials were only possible thanks to the robust demand for Banijay’s content.

Online sports betting & gaming, content production & distribution, and live experiences performed better year-on-year. The iGaming and sports wagering vertical fared exceptionally well, recording a 45.4% revenue increase to €1,46 billion ($1.60 billion). The company acknowledged the challenging worldwide landscape for content producers but emphasized Banijay’s ability to adapt and thrive.

Even in a challenging global content production market context, we continued to see strong demand for our iconic brands and deep content catalog.

François Riahi, Banijay Group CEO

CEO Riahi noted that streaming platforms continue to drive demand for the company’s scripted content and global formats, cementing Banijay’s position as a leading European studio. Meanwhile, expansion into live events has already emerged as a consistent growth driver. The 37% growth in unique active players for the company’s online gaming division further demonstrates the benefits of continued investment and innovation.

The Company Will Leverage Its Strengths

Despite these positive financials, Banijay must rapidly adapt to France’s 2025 Social Security Financing Act, which introduces increased taxes on online gaming operations on 1 July 2025. The new levies could cut the company’s adjusted EBITDA by roughly €20 million ($21.85 million). Riahi strongly criticized this policy, describing it as anticompetitive and confirming that Banijay will contest the tax increases before the relevant authorities.

The tax increase applies to online gaming activities in France with a strong impact on the Group French gaming profitability.

Banijay FY2024 Earnings Call

Speaking to investors, Riahi was optimistic that Banijay’s business model was resilient enough to maintain strong growth, predicting double-digit growth for the gaming vertical in 2025. Looking ahead, Banijay hopes to leverage its vast library of intellectual property, talent, and technology to drive continued success and pursue stronger partnerships with streaming platforms.

In May, Banijay will host its inaugural Capital Markets Day and present its 2025-2027 roadmap. One of its key objectives is to expand stock liquidity and increase its free float, ensuring that shareholders can fully benefit from the company’s growth. Reflecting on the company’s achievements, Riahi lauded the company’s strength and resilience and predicted enduring success.