Banijay CEO Vows to Ramp Up Movie Production Amid Streaming Surge

In a significant shift, Banijay Entertainment, the European media conglomerate, is set to ramp up its movie production efforts. According to CEO Marco Bassetti, the company, which has traditionally focused on television, will now be more "aggressive" in pursuing feature film projects.

Bassetti, who also serves as CEO of Banijay Live, the company's live events division, explained that the changing landscape of the movie industry, particularly the rise of streaming platforms, has prompted this strategic move. "The movie business with the platforms has changed a lot," he said, noting that Banijay is currently producing 14-15 movies per year and plans to increase this output.

The company's Spanish production arm, Pookeepsie, has already made waves with its Prime Video movie series, Culpables. Additionally, Banijay has been involved in other high-profile film projects, such as Alain Goldman's Venice title A Pied D'Oeuvre and the Italian comedy Diva Futura.

Bassetti acknowledged that Banijay has been "a little shy" in the movie business in the past, preferring to avoid the perceived risks. However, the growing demand for international films from streaming services has convinced the company to take a more aggressive approach to feature film production.

As Banijay looks to expand its English-language production capabilities, Bassetti expressed concerns about the high costs of producing in the United States, stating that "it's a good place to get a commission but not a good place to make your show." Nevertheless, the company remains committed to exploring opportunities in the global movie market.