The recent merger of Banijay and All3Media has created a behemoth in the television production industry, but is it the final chapter in the super-indie story? This article delves into the implications of this merger and explores the future of television production in an ever-evolving media landscape.
The Rise of the Super-Indie
The television industry has witnessed a significant consolidation trend over the past two decades, with independent production companies merging to form larger entities. This trend was driven by the belief that scale would bring access to capital, international distribution, and the ability to develop ideas across multiple markets. However, as the industry evolved, a paradox emerged: while financially, groups grew through consolidation, creatively, they had to preserve the unique identities of the acquired labels.
Beyond the Commissioning Economy
The merger of Banijay and All3Media represents a shift in focus for these super-indies. Founders and creative leaders within these groups are now being encouraged to think beyond traditional commissioning and develop long-term growth plans that are not solely reliant on broadcaster or streamer orders. This shift in strategy acknowledges that future growth requires more than just winning the next commission.
Building Direct Audience Relationships
One of the key challenges for traditional television companies is building a direct relationship with their audience. This requires a different skill set compared to serving commissioners. Digital companies, on the other hand, have a continuous relationship with their audience, testing ideas, learning from behavior, and moving between various platforms and formats. Television producers, with their selective and expensive development process, often struggle to adapt to this agile approach.
The Role of Digital and Live Entertainment
The combined Banijay-All3Media group has an opportunity to leverage its resources in digital distribution, creator-led content, and live entertainment. Little Dot Studios, with its expertise in digital publishing and audience development, could be a strategically important asset. However, the challenge lies in integrating this digital expertise across the wider group, rather than keeping it siloed within one business unit.
Extending Intellectual Property
The group's extensive catalogue provides a strong foundation for extending intellectual property across territories, platforms, and generations. The real challenge is developing new IP with a broader commercial life in mind from the outset. This requires a cultural shift, as the traditional super-indie model of acquiring entrepreneurial companies and allowing independence may not be sustainable as the parent company grows.
The Future of Consolidation
The next phase of consolidation is likely to look very different. The most valuable acquisitions for global production groups may not be other television labels, but rather creator businesses, digital publishers, sports media companies, or platforms with direct audience access. The focus is shifting from owning more IP to creating more ways of building businesses around it.
The Evolution of Television
The term "super-indie" may eventually become inadequate to describe these evolving entities. These groups are being asked to think beyond television production and create wider entertainment businesses. The Banijay-All3Media merger could be the last great super-indie in its traditional form, but what comes next will continue to make television, but with a broader perspective and a more direct relationship with audiences.
In my opinion, this merger represents a pivotal moment in the television industry's evolution. It's a step towards a future where television is just one part of a larger, more diverse entertainment ecosystem. The challenge for these super-indies is to balance their scale and resources with the creative autonomy that has made them successful in the first place.
