The recent merger of Banijay and All3Media has created a powerhouse in the television production industry, but it also raises intriguing questions about the future of this sector. This article delves into the implications of this mega-merger and explores the evolving landscape of television production, offering a unique perspective on where the industry might be headed.
The Rise of the Super-Indie
The story of Banijay-All3Media is a tale of consolidation and growth. From its roots in independent production companies like Brighter Pictures, the journey to becoming the world's largest independent television production group is a testament to the power of scale. But what does this mean for the industry and its creative landscape?
Creative vs. Commercial: A Delicate Balance
While financial markets reward scale, the television industry's stakeholders, from commissioners to viewers, have different priorities. Commissioners seek specialized expertise and relevant experience, and viewers are loyal to show brands, not production companies. This creates a paradox: financially, groups grow through consolidation, but creatively, they must preserve the identities of their acquired labels.
Beyond Traditional Commissioning
The merger's significance lies in its potential to drive strategic change. Founders and creative leaders within both Banijay and All3Media are being urged to think beyond traditional commissioning. The focus is shifting towards long-term growth plans that aren't solely reliant on broadcaster or streamer orders. This shift indicates a broader recognition that future growth requires more than just winning the next commission.
Building Direct Audience Relationships
The challenge for traditional television companies is to establish direct relationships with audiences, a skill set that requires a different approach. Digital companies, on the other hand, have a continuous relationship with their audiences, testing ideas, learning from behavior, and moving between various platforms and formats. Television producers, with their selective and expensive development processes, must adapt to this new landscape.
The Role of Digital and Live Entertainment
Little Dot Studios, with its expertise in digital publishing and audience development, could be a strategically important asset for the combined company. The ability to manage rights across platforms and engage audiences continuously is a valuable skill that traditional television producers often lack. Similarly, live entertainment offers opportunities to extend the life of intellectual property beyond the screen, but it requires a deep understanding of audience behavior and expectations.
The Future of Intellectual Property
The challenge for the enlarged Banijay-All3Media group is not just to own more IP, but to create more ways of building businesses around it. This means developing new intellectual property with a broader commercial life in mind from the outset, rather than adding digital or live elements as an afterthought. It's a cultural and commercial challenge that requires a delicate balance between central control and creative autonomy.
The Next Phase of Consolidation
The next wave of consolidation may look very different from the past. The most valuable acquisitions for global production groups might not be other television labels, but rather creator businesses, digital publishers, sports media companies, or platforms with direct audience access. The focus is shifting towards capability and direct audience engagement, rather than simply amassing more catalogs.
The Evolution of the Super-Indie
The term "super-indie" may eventually become inadequate to describe these evolving production groups. While it describes a company assembled from independent producers, it doesn't capture the broader business these producers are now expected to help create. Banijay and All3Media's merger marks a pivotal moment, where the production sector is being asked to think beyond production, and envision a future where television is just one part of a wider entertainment business.
A New Era for Television
The promise of scale that attracted Brighter Pictures to Endemol in 2001 has been fulfilled, but the question now is whether this scale can support a more direct and lasting relationship with audiences. Banijay-All3Media could be the last great super-indie in its traditional form, but what comes next will continue to make television, just in a broader, more diverse entertainment landscape.
