MAM
Banijay eyes live events as major growth driver beyond TV
IP like ‘Black Mirror’ set for immersive experiences in 2026, gaming division powers profitability.
MUMBAI: Banijay is turning screens into stages because when your IP is this golden, even the live crowd wants an encore. Banijay, the French entertainment group, on Thursday flagged live events and franchise extensions as key growth engines for 2026 and beyond, ahead of its planned merger with All3Media. CEO François Riahi told reporters that the company’s strongest content IP is increasingly generating value off-screen, pointing to the upcoming immersive live experiences based on ‘Black Mirror’ in 2026 as a prime example.
“We have a gold mine that we’re not fully exploiting,” Riahi said. He cited the intense bidding war between Paramount and Netflix for Warner’s portfolio as proof of how fundamental IP has become in today’s entertainment landscape. “That gives you an idea of how essential IP is today,” he added.
On the financial front, Banijay’s production consolidated revenue edged up 0.4 per cent excluding currency effects to €3.29 billion in 2025. Its online betting division led by Betclic and bolstered by the recent Tipico acquisition grew 10.2 per cent to €1.59 billion, accounting for roughly one-third of group revenue but nearly half of profitability. Combined EBITDA rose 8.6 per cent to €961 million.
Riahi said the gaming division is poised to benefit in 2026 from major sporting events including the soccer World Cup, with focus on customer acquisition across Betclic and Tipico.
Banijay will provide detailed mid-term financial guidance, incorporating recent acquisitions, during its strategic update on 26 March 2026.
In an industry where stories no longer end at the credits, Banijay isn’t just producing content, it’s turning franchises into full-spectrum entertainment empires, one live experience and one bet at a time.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
