Banijay CEO Urges European Producers to Seek Fairer Deals with Hollywood Giants

Empowering European Creativity: A Call for Fairer Global Content Partnerships

Recognizing the True Value of Creative Investment

Marco Bassetti, the chief executive of the London-based Banijay Entertainment, the leading independent studio worldwide, recently addressed the necessity for European content creators to assert stronger negotiation positions against American production houses and streaming giants. During a discussion at Rome's MIA market, themed 'What defines a 'European champion' in today's increasingly competitive global content landscape?', Bassetti underscored the pivotal role independent producers play in fostering innovation.

The Ongoing European Debate on Creative Compensation

Bassetti, engaging in dialogue with seasoned Italian producer Marco Chimenz, articulated his personal perspective on the prevalent discussion across Europe. He highlighted the urgent need to acknowledge and justly reward creative endeavors, irrespective of the diverse legal frameworks across different European nations. This sentiment underpins his advocacy for a system that truly values the intellectual capital contributed by European talent.

Beyond Quotas: Focusing on Core Engagement Rules

The Italian business leader further dismissed the ongoing discussions in Brussels regarding investment quotas as ultimately unproductive. These regulations, part of Europe's Audiovisual Media Services Directive, mandate foreign streaming services to allocate a portion of their earnings to local productions, with specifics determined by each country. Bassetti contends that while these rules exist, the fundamental principles of engagement remain paramount.

Intellectual Property as the Linchpin of Fair Trade

According to Bassetti, the primary contention should revolve around ensuring that studios and streaming platforms acknowledge and reward creativity through the retention of intellectual property (IP) rights for producers. He observed that this ideal scenario is currently not widely implemented. He drew a contrast with practices in countries like England, where television networks typically allow creators to regain ownership of their IP after a specified period, thereby incentivizing creativity.

Challenging the Service Provider Paradigm

Bassetti pointed out that in continental Europe, the norm has been for producers to retain IP. However, he cautioned against a model where streaming services relegate production companies to mere service providers. Such an approach, he argued, stifles innovation by removing the incentive for creators to collaborate with these platforms. He noted that while there's growing momentum towards acknowledging IP ownership and flexible release windows, comprehensive control largely remains with the major studios and streamers.

Banijay's Strategic Evolution and Global Ambitions

Since assuming leadership of Stéphane Courbit's media empire, Banijay, in 2013, Bassetti has skillfully navigated the company through significant transformations. These include the acquisition of Endemol Shine in 2020 amid the pandemic, expanding into live entertainment through Balich Wonder Studio and the Independents, and simultaneously enhancing both scripted and unscripted content portfolios while strengthening existing intellectual properties.

Recent Consolidations and Future Expansion

Just two months prior, Banijay Entertainment and RedBird IMI finalized an $8 billion merger between Banijay and All3Media, headquartered in London. This deal positioned All3Media CEO Jane Turton as Deputy CEO of the newly combined entity, which now manages an extensive library of over 265,000 hours of content, including popular franchises. Although Banijay is renowned for unscripted content such as "The Traitors" and "MasterChef," it also produces acclaimed scripted series and films like "Peaky Blinders."

Seizing Opportunities in Scripted Production

Recently, at the Mipcom TV market in Cannes, Bassetti publicly articulated Banijay's intent to enhance its presence in scripted production, specifically hinting at an expansion into the U.S. scripted market. This strategic move could potentially contribute to improving the terms of trade for Banijay and other European producers, reinforcing their standing in the global entertainment industry.