Press Release
Paris, May 16, 2025
Capital Markets Day 2025
Banijay Group unveils its strategic roadmap
to lead the next phase of global entertainment
High-single digit to low-double digit organic CAGR growth
in Adjusted EBITDA between 2025 and 2028
Banijay Group, the global independent leader in the entertainment industry, is hosting its Capital Markets Day on Friday, May 16, 2025, at 10:00 AM CET, to present its growth strategy and outlook through 2028.
Banijay Group boasts leading positions across the entertainment industry, ranking as the first global content producer and distributor, and leading provider for global streamers. It is also the top global producer of large ceremonies and live experiences, and the largest marketing and communications group for luxury. Moreover, Banijay Group is active in sports entertainment, operating the fastest growing online betting and gaming platform, with leading positions in online sports betting in its core markets.
Building on three years of double-digit growth and strong profitability since its listing, Banijay Group is opening a new chapter grounded with three strategic levers that will fuel its ambition:
- Maintain high level of organic growth: Capitalize on strong industry dynamics, while continuing to gain market share through a consistent track record of outperforming the market. Further unlock new revenue streams via continued expansion into streaming and digital platforms, increasing penetration and monetization of social media, and opening of new territories.
- Develop synergies between activities: Leverage our IPs to develop compelling content across our activities, including engaging live experiences and new branded games based on renowned series and shows.
- Consolidate our industry in all our businesses: Banijay Group is perfectly positioned to benefit from the ongoing consolidation of the entertainment industry which would further expand scale benefits and come with cost synergies.
Stéphane Courbit, Founder and Chairman of Banijay Group, commented: “Founded in 2008 with the ambition to create powerful emotions for global audiences, Banijay has grown into a global entertainment leader, with revenues multiplied by 24x and now approaching €5 billion. This success is rooted in our clear strategic vision and the continuous expansion and diversification of our offering, spanning scripted and non-scripted content, production for linear broadcasters, streamers and digital platforms, live experiences for brands and major events, and sports entertainment through sports betting, sport documentaries and ceremonies.
Entertainment is the common DNA that connects all our activities. Regardless of format, platform or audience, our purpose remains the same: to produce and deliver emotional experiences at scale.
Looking ahead, we are entering a new phase in Banijay’s journey — one defined by innovation and scale. With iconic IP, technological edge, a vast content catalogue, proven M&A execution, and disciplined financial management, we are uniquely positioned to meet the world’s growing demand for premium content and live experiences. ”
François Riahi, CEO of Banijay Group, added: “Banijay Group has entered a new phase of accelerated growth, underpinned by strong growth prospects, clear strategic roadmap and strong execution capabilities.
We intend to scale further by aligning with major industry shifts — from increased digitalization to the surging global appetite for premium, sports and immersive content. This will be supported by both transformative acquisitions and targeted bolt-ons, expanding our presence in high-growth segments and new geographies.
We are raising our mid-term organic guidance, supported by the strength of our platform, proprietary assets, and track record of market outperformance. Backed by financial discipline and a strong entrepreneurial culture, Banijay is ideally positioned to shape the future of global entertainment and create long-term value for all stakeholders.”
Drawing on its three strategic levers, Banijay Group has set pure organic robust mid-term organic financial targets:
- Revenue: ~€7.0bn in 2028
- Adjusted EBITDA: >€1.2bn in 2028
- Organic revenue CAGR 2025-2028: Mid-to-high single digit for Content Production, Distribution & Live Experiences; Low-to-mid teens for Online Sports Betting & Gaming
- Organic Adjusted EBITDA CAGR 2025-2028: High-single digit to low-double digit growth
- Adjusted FCF conversion: >80% Adjusted FCF conversion rate
- Adjusted Operating FCF conversion: ~65% Adjusted operating FCF conversion rate
- Returns to shareholders: Dividend payout >33% of Adjusted net income
- Leverage: Target leverage of 2.0x in the medium-term
Furthermore, Banijay Group discloses today further details on its option to take control (moving from 14% to 51%) and fully consolidate The Independents in the group accounts (including the acquired debt) in 2026. This consolidation would add €1bn in revenues to the group in 2028 with the same margin profile as Banijay Entertainment. The transaction would be expected to have a neutral impact on leverage, assuming funding via a primary equity raise of €300m to €400m.
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The slide presentation and live webcast will be accessible in the “Investors” section of Banijay Group’s website and via the link: https://edge.media-server.com/mmc/p/ytpshtko/. A replay of the CMD will be available after the event.
Investor Relations
Press Relations
Hugues Boëton – Phone: +33 6 79 99 27 15
Nicolas Grange – Phone: +33 6 29 56 20 19
About Banijay Group
Banijay Group is a global entertainment leader founded by Stéphane Courbit, a 30-year entrepreneur and entertainment industry pioneer. Our mission is to inspire passion by providing audiences with engaging and innovative entertainment experiences. The Group’s activities include Content production & distribution (through Banijay Entertainment, the largest international independent producer distributor), Live experiences (through Banijay Live, a leading player in live experiences) and Online sports betting & gaming (through Banijay Gaming, Europe’s fastest-growing online sports betting platform). In 2024, Banijay Group recorded revenue and Adjusted EBITDA of €4.8bn and €900m respectively. Banijay Group is listed on Euronext Amsterdam (ISIN: NL0015000X07, Bloomberg: BNJ NA, Reuters: BNJ.AS).
Disclaimer
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This communication does not constitute an offer for sale of, or a solicitation of an offer to purchase or subscribe for, any securities in the United States or in any other jurisdiction. This communication is only being addressed to: (i) outside the United States to non-US persons (as defined in Regulation S under the Securities Act) and (ii) within the United States to “Qualified Institutional Buyers” (as defined in Rule 144A under the Securities Act).
This communication is only addressed to and directed at persons in member states of the European Economic Area (the “Member States”) and in the United Kingdom who are “qualified investors” within the meaning of Article 2(e) of the Regulation 2017/1129 of the European Union (as amended, the “Prospectus Regulation”) or the Prospectus Regulation as it forms part of UK domestic law by virtue of the UK European Union (Withdrawal) Act 2018 and as amended by The Prospectus (Amendment etc.) (EU Exit) Regulations 2019 (each as amended) (the “UK Prospectus Regulation”), respectively. This communication is being distributed only to, and is directed only at (a) persons outside the United Kingdom, (b) persons who have professional experience in matters relating to investments falling within Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (c) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order and (d) persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This announcement is directed only at relevant persons and any person who is not a relevant person should not act or rely on this communication or any of its contents.
This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Banijay Group and its subsidiaries (referred to as ‘the company’) and certain of the plans and objectives of the company with respect to these items. The words “believes”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the company’s intentions, beliefs or current expectations concerning, among other things, the company’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the company operates. The forward-looking statements in this document are based on numerous assumptions regarding the company’s present and future business strategies and the environment in which the company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the company’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behaviour of other market participants, the actions of regulators and other factors such as the company’s ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the company operates or in economic or technological trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance.
Attachment
- Banijay Group – Press Release Capital Markets Day 2025
