Banijay + All3 and the Year of Consolidation: What M&A Means for Formats and Format Creators

Banijay + All3 and the Year of Consolidation: What M&A Means for Formats and Format Creators

Hook: If you create unscripted formats or sell adaptations internationally, 2026’s rush of M&A—led by the Banijay and All3 signals—means your marketplace, negotiating power, and revenue routes are changing fast. This article gives format owners and creators the playbook to protect IP, extract value, and capitalize on consolidation.

Bottom line first: what happened and why it matters now

In early 2026, multiple trade reports confirmed that Banijay and All3Media parent RedBird IMI were in deep discussions over a production-assets merger. Industry observers have framed the move as a defining moment in what many are calling the Year of Consolidation—a trend that carried over from late 2025 as private equity and global distributors doubled down on scale for international reach.

For format owners and creators working in unscripted TV, the implications are immediate: fewer, larger gatekeepers; more centralized distribution muscle; stronger data and commissioning platforms inside conglomerates; and a shifting balance between scale advantages and competitive compression on prices for format sales and licensing deals.

“Consolidation will be the buzzword of 2026 in international entertainment.” — Jesse Whittock, International Insider

Why this consolidation wave is different in 2026

• Data-driven commissioning: Merged groups now bring consolidated viewing and performance analytics across linear, SVOD and FAST channels—sharpening which formats get multi-territory rollouts.
• Capitalized development engines: Bigger balance sheets mean more multi-territory pilots and franchise investment (but also higher internal opportunity cost for white-label acquisitions).
• Cross-platform licensing: Buyers want bundling rights (linear + digital + short-form + social clips) rather than narrow local format-only deals.
• Regulatory and antitrust watchfulness: Bigger deals attract scrutiny in Europe, UK and increasingly in APAC—timelines to close deals are getting longer.

What consolidation means for format owners and creators (the upside and the risk)

Upside — scale, reach, and deeper exploitation

• Faster global rollouts: Consolidators like Banijay can place a format in 30+ territories quickly, boosting licensing revenue and brand coherence.
• Layered monetization: Combined groups can package broadcast, streaming, FAST channels, clips, branded content and live formats into multi-rights deals—raising deal value per title.
• Investment in localization and formats R&D: Larger buyers are investing in localizing formats (format tweaks, talent attachments, culturally specific mechanics) which increases lifespan.
• Up-front guarantees and co-development budgets: Consolidators often offer larger MGs or multi-territory minimums in exchange for exclusivity, providing working capital to creators.

Risk — concentration, price pressure, and scope creep

• Fewer bidders: Consolidation reduces the number of independent buyers for large-scale formats, tightening competition and downward pressure on fees for mid-tier formats.
• Demand for broader rights: Big groups will push for broader rights (global master, derivative works, merchandising) or long exclusivity windows as a condition for larger MGs.
• Integration and attention scarcity: Within mega-groups, newer or smaller formats may struggle for development attention against in-house IP franchises.
• Longer negotiation cycles: Antitrust reviews and corporate integrations can slow deal timelines—affecting cashflow for creators dependent on quick turnovers.

Actionable playbook for format owners in 2026

Below are tactical steps and contract strategies you can use now to retain value and benefit from the consolidation wave.

1. Know what you own — harden your IP

Before any meeting with Banijay, All3 or other acquirers:

• Document and time-stamp your format bible, treatment, pilot footage, and production manuals.
• Register trademarks for the show name and key distinctive elements across priority territories—this is part of broader legal and succession planning conversations you should start early.
• Secure written agreements with co-creators, production partners, and contributors that assign format IP or clarify rights splits.

2. Pick a licensing stance: license vs. sell

With consolidation, buyers will propose a spectrum of deals from exclusive perpetual masters to limited-term, territory-limited licenses. Your negotiation framework:

• Prefer license models where possible—retain ownership and monetize repeatedly.
• If pressed to sell, demand a high multiple, a clear carve-out for secondary exploitation, and a royalty on future sequels or formats derived from your IP.
• Use staged deals: start with a multi-territory non-exclusive licensing pilot, then convert to exclusive if performance metrics are met.

3. Negotiate for value-driving clauses

Key commercial terms to protect and to push for:

• Minimum guarantees (MGs): Secure upfront MGs with territory-by-territory breakpoints.
• Performance escalators: Tiered bonuses if local versions meet ratings or streaming thresholds.
• Revenue share transparency: Audit rights and clear waterfall definitions for ancillary revenues (merch, format licensing to third parties)—invest in observability over backend reporting.
• Reversion clauses: Rights reversion if development timelines or commissioning windows lapse.
• Approval & moral clauses: Retain approval rights over major format changes to protect core mechanics that make your IP valuable.

4. Bundle smart—sell perimeter rights, not everything

Consolidators want the whole kit: linear, streaming, short-form, social, live, and merchandising. You can get more value by unbundling.

• Offer a core bundle (broadcast + local digital) and reserve global or merchandising rights for separate negotiation—merchandising choices and packaging strategies are increasingly important as creators move from stalls to scale (see creator commerce & packaging playbooks).
• License short-form social clips separately—these are revenue-generating and now more valuable with platform native ad models; platform deals such as BBC–YouTube style arrangements are changing the calculus for short-form monetization.

5. Use performance data as currency

In 2026, buyers prize formats with proven cross-cultural durability. Collect and present:

• Local ratings and streaming completion rates from pilot runs.
• Social engagement spikes, branded searches, and demographic breakdowns.
• Cost-per-episode benchmarks vs. audience delivery—invest in tools that offer observability & cost control so you can back performance claims with clean dashboards.

6. Build relationships with multiple partners

Don’t put all your eggs with one consolidator. Maintain active relationships with strong indies, niche regional players, and direct-to-platform teams—diversify your route-to-market and bargaining leverage. Marketplace dynamics matter; study playbooks such as seller onboarding case studies to shorten time-to-deal and reduce friction.

How to pitch formats to consolidated groups like Banijay & All3

Pitching to mega-groups requires a slightly different preparation than pitching to independents or local broadcasters. Focus on scale, replicability and data:

1. Lead with a multi-territory case: Show where the format can roll out—include cultural mechanics that translate and where it will need local adaptation.
2. Demonstrate modularity: Break your format into modules—core mechanics, optional segments, talent-swaps—so buyers can see both brand integrity and local flexibility. See examples from collaborative modular workflows that make formats easier to repurpose.
3. Provide proof-of-concept footage: Short, high-quality vertical and horizontal edits for social and pitch decks.
4. Offer a staged pilot plan: Propose a low-cost local pilot financed by an MG or co-development split, with clear KPIs for scaling.

International licensing prospects in 2026: markets to watch

The following territories are most active for format licensing this year:

• EMEA: Consolidators are consolidating linear & streaming windows—formats that emphasize appointment viewing and eventization do well.
• APAC: India, Korea, Japan and Southeast Asia continue to import formats, but with high localization demands; co-productions and adaptations dominate.
• LATAM: Fast-growing streaming penetration makes this a high-velocity market for reality and lifestyle formats.
• North America: Saturated but high-value; holdout U.S. deals can be lucrative if you secure global or non-U.S. rights first.

Tip:

Target the region where your format’s core mechanics naturally fit and use those local successes to leverage multi-territory packages to consolidators.

Monetization strategies beyond format sales

In a world where large buyers try to internalize value, diversify income streams to retain leverage:

• Merchandising & licensing: Licence IP for branded products and live touring versions of your show—keep these rights separate if you can. Tokenized and limited-drop merchandising models are one way creators are monetizing fan demand (tokenized drops & micro-events).
• Digital-first spinoffs: Short-form verticals, podcasts, and companion socials can sustain audience interest between seasons and generate ad revenue—pair story-led launches with emotional hooks to boost AOV and engagement (story‑led launch tactics).
• International format marketplaces: Leverage marketplaces and agents to sell non-exclusive region-by-region rights rather than one global sale—marketplace playbooks can help you keep control and incremental revenue (marketplace onboarding case studies).
• Production partnership equity: Negotiate for producer credits, backend participation, or equity in spin-offs rather than one-time fees—also consult advanced tax and backend structuring playbooks when you take backend points or equity.

Legal and operational checklist for M&A-era deals

1. Confirm chain of title and clearances before sharing bibles or footage.
2. Insert reversion triggers for undeveloped territories within 18–36 months.
3. Define derivative works and sequels clearly—retain royalties for franchised formats.
4. Include audit and reporting rights on all revenue streams tied to your IP.
5. Plan for change-of-control clauses in case a buyer is itself acquired—protect termination or re-negotiation rights; this ties into broader founder succession and legacy planning.

Case scenarios: three moves creators should consider now

Scenario A: You own a high-performing regional format

Strategy: Aim for a tiered licensing approach—sell non-exclusive rights to regional buyers, keep global digital rights, and leverage regional success to negotiate an MG with a consolidator for multi-territory rollouts.

Scenario B: You’re offered a buyout from a large group

Strategy: Don’t accept a straight sale unless the price reflects future upside. Seek earn-outs, back-end participation, and reversion clauses if the buyer fails to exploit the format in agreed territories or windows.

Scenario C: You’re a new creator with a pilot and limited data

Strategy: Use short-term non-exclusive licensing or co-development deals to build performance proof points. Consider partnering with regional indies rather than pitching only to mega-groups who de-prioritize unproven titles.

Future predictions—what to expect through 2026 and beyond

• Continued deal flow among top 10 indies: More tie-ups like Banijay + All3 are likely as scale brings cross-border efficiencies.
• Higher demand for modular formats: Buyers will favor formats that can be repackaged quickly across linear, short-form and live formats—modularity is a direct route to resale value (collaborative modular workflows).
• Greater use of performance-based deals: Expect more MGs tied to data-backed KPIs and revenue-share hybrid models.
• Regulatory complexity: Cross-border M&A will require longer lead times—creators can exploit this by negotiating interim licenses while deals close.

Final checklist: 12 steps to protect and grow your format value in M&A 2026

1. Harden IP — bibles, copyrights, trademarks.
2. Get chain-of-title cleanups done now.
3. Retain ownership where possible; favour licensing over sale.
4. Demand MGs with performance escalators.
5. Carve out merchandising and live touring rights.
6. Negotiate reversion triggers and change-of-control protections.
7. Collect and present cross-platform performance data.
8. Pitch modular formats that scale globally.
9. Keep multiple distribution relationships open.
10. Request audit and reporting rights in contracts.
11. Consider producer equity or backend participation instead of one-off fees.
12. Use short-term non-exclusive deals to build proof-of-concept rapidly.

Conclusion — be strategic, not reactive

Banijay and All3 cozying up is a signal, not the final chord. Consolidation gives format owners both a ladder and a filter: the ladder of accelerated global reach and the filter of higher standards for what buyers will pay for. In 2026, the smartest creators will combine robust IP protection, flexible licensing strategies, and data-driven pitches to extract higher value from fewer but more powerful buyers.

Stay proactive: protect your core mechanics, diversify revenue, and use regional wins as leverage. When a consolidator comes calling, you'll be ready to get the deal—and the terms—you deserve.

Actionable takeaway

Download our free Format Owner M&A Checklist and adopt the 12-step contract playbook before your next pitch. If you want bespoke deal support, our team at press24.news offers tailored analysis and negotiation briefings for format creators navigating 2026's consolidation wave.

Call to action: Subscribe to our international entertainment briefing for weekly updates on Banijay, All3 and other consolidators — and get an immediate copy of the Format Owner M&A Checklist.

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