Banijay Triples Profits in U.K., Posts $130 Million Revenue

variety.com:

K.J. Yossman Banijay, the production juggernaut behind shows including “Starstruck,” has posted revenues of £102.1 million ($130 million) in its latest U.K.

accounts – double the previous year’s revenues of $66.5 million.The company also posted post-tax profits of $9.7 million, more than triple that of the previous year’s, which amounted to $2.6 million.The figures were disclosed in the latest filings for Banijay Rights Limited, the U.K.-based international distribution and rights exploitation arm of Banijay Entertainment SAS, its French parent company.

The accounts, which cover a 12-month period up to 31 Dec. 2020, were filed on Tuesday at the U.K.’s company registrar, Companies House.(Companies House allows up to an 18-month time lag between a company’s financial year-end and the filing of its accounts for that year, although it is believed Banijay Rights Limited was also late in filing its accounts.) The report for 2020 shows almost 50% of the company’s revenue came from Europe, the Middle East and Africa, which totalled approx. $54 million, followed by the U.K. ($29 million), the U.S. ($22.3 million), Australia and New Zealand ($17 million), Latin America ($7.9 million) and the rest of the world ($3 million).Despite the stellar numbers, the report cited a number of challenges for the U.K.

television industry, including Brexit, the ongoing effects of the COVID-19 pandemic and a shifting landscape for broadcasters. “The international market for television programs and media content continues to be challenging in key territories as broadcasters reduce expenditure and competition intensifies,” the report noted.The report also said that while the U.K.’s withdrawal from the European Union has been finalized, “it is still.