Consolidation Watch: What Banijay-All3 Talks Mean for Format Owners and Creators

Hook: Why creators and format owners should care right now

If you build TV formats, license IP, or sell shows to broadcasters and streamers, the Banijay–All3 talks that surfaced in early 2026 matter. Consolidation at the production-company level changes who negotiates with you, how deals are structured, and where the money flows. For content creators and format owners already struggling with fractured markets, opaque accounting, and shrinking commissioning windows, this development can feel like both a threat and an opportunity. This piece gives you a practical road map to protect value, extract better terms, and spot co-production openings as the market reshapes.

What happened: Banijay & All3 in 2026 — the short version

In early 2026 reports confirmed that Banijay and RedBird/All3Media were in advanced talks about combining production assets. Industry coverage framed it as another major turn in a multi-year consolidation wave — Banijay previously absorbed Endemol Shine and Zodiak — creating what analysts dub a super-catalog of global formats including household names like MasterChef and The Traitors.

Why the timing? After streaming platforms reset budgets in 2023–25 and major broadcasters sought scale to drive global sales, content houses pivoted back to consolidation to gain distribution leverage, reduce overhead, and monetize large-format libraries across linear, FAST, AVOD and SVOD windows.

Big-picture trends shaping the market in 2026

Before we analyze specific impacts, here are the market forces converging in 2026 that make this consolidation meaningful:

• Scale economics: Larger catalogs allow unified negotiation with global streamers and advertisers, spreading development risk across many IPs.
• Data-driven commissioning: Buyers rely on cross-territory performance data to pick formats — consolidated houses can package and present superior data.
• Window fragmentation: Multiple monetization windows (linear, FAST, AVOD, SVOD, social short-form) force format owners to rethink exclusivity and rights carving.
• Creators’ friction points: Transparency and audit access remain limited — consolidation may exacerbate opacity or, conversely, standardize reporting.
• Co-production appeal: With budgets constrained, co-productions are practical ways to scale production while sharing risk.

How consolidation affects format licensing

Consolidation reshapes format licensing on three axes: who you license to, what rights are negotiable, and the commercial models used.

1. The counterparty shifts — fewer gatekeepers, more negotiating clout

When two major producers merge, buyers face a smaller set of licensors. That gives consolidated houses leverage to:

• Package multiple formats together for territory or platform-exclusive deals.
• Demand preferred windows or first-look arrangements across multiple outlets.
• Negotiate higher upfront license fees for bankable formats.

For format owners, that means a single consolidated buyer may be able to dictate broader terms. But it also means better access to multinational distribution teams that can scale your format quickly.

2. Licensing models will diversify

Expect to see more hybrid deals in 2026:

• Bundled licensing: Multi-format packages sold by the parent company — often with tiered pricing for territory breadth. (See also tips for pitching to streaming execs.)
• Performance-linked earnouts: Lower upfront fees with backend bonuses tied to ratings, streams, or ad revenue.
• Platform carve-outs: Rights split by platform (linear vs. AVOD vs. SVOD) instead of pure territorial splits.

3. Standardization of legal terms — a double-edged sword

Bigger companies push for template agreements. That reduces legal negotiation time but can lock creators into less favorable boilerplate clauses (broad buyouts, narrow audit rights, long moratoriums on reversion). On the bright side, standardized reporting and global compliance functions can improve royalty transparency if enforced.

Creator bargaining power: winners, losers, and how to retain leverage

Consolidation doesn’t uniformly disadvantage creators — it changes the levers you can pull.

Who loses leverage

• Small format owners who rely on one or two buyers for territory sales — lose options when buyers consolidate.
• Creators who sell full buyouts in exchange for modest upfront fees — because larger buyers can capitalize on long-term global exploitation.

Who gains leverage

• Creators with demonstrable audience data (social-first formats, viral IP) that show cross-border appeal.
• Format owners who maintain multiple distribution channels (direct licensing, production deals, format franchising platforms).
• Those who are co-producers or retain a stake in downstream revenue.

How creators protect and increase bargaining power — practical steps

1. Retain exploitable rights where possible — avoid blanket global buyouts; carve out digital/short-form and merchandising rights.
2. Insist on robust accounting and audit rights — quarterly reporting, line-item breakdown of income, and independent audit clauses are non-negotiable.
3. Structure backend participation — demand percentage-based participations, tiered bonuses based on KPIs, and escalators for subsequent seasons.
4. Build direct audience proof points — present cross-platform engagement data to strengthen your negotiating position.
5. Use competitive tension — keep alternative buyers in the room, even if you expect to work with a consolidated house.
6. Standardize your paperwork — develop a preferred-format licensing term sheet so you lead the legal framing.

Co-productions: more opportunities, but clearer structures required

Consolidation often increases co-production opportunities. Bigger houses prefer spreading risk across partners and may actively seek local creative partners to retain authenticity in adaptations. But co-producing with a consolidated group requires sharper legal and financial clarity.

Common co-production models to consider

• Equity co-pro — partners share production costs and own a proportional share of the master and format rights.
• Commission co-pro — a broadcaster or streamer commissions local production; the format owner retains central format rights and supervision fees.
• Service model — a production company delivers shows for a fee; format owner maintains IP and backend rights.
• Hybrid structures — equity split for master copy ownership, plus performance-linked bonuses for format owners.

Key deal points to negotiate in co-productions

• IP ownership and reversion: who owns the format and the master? Include clear reversion triggers (e.g., after a defined exploitation term or if the partner defaults). See how to keep ownership when content is repurposed: when media companies repurpose family content.
• Territorial rights: carve-outs for digital and social; define where the format owner can still license independently.
• Revenue waterfall: explicit order of recoupment, fee allocations, and profit split methodologies.
• Creative control & format supervision: define the format bible, supervision fees, and approval rights for casting, editing, and branding.
• Audit, transparency & KPIs: quarterly data access, campaign-performance metrics, and escalation mechanisms for disputes.

Negotiation playbook: clauses and tactics creators should insist on

When you sit at the table with a consolidated buyer, these contract elements protect value and future income.

Top contractual provisions

• Limited buyouts: time-limited and territory-limited rights with clear reversion dates.
• Backend participation & escalators: percentages that rise with performance metrics like seasons ordered, ratings thresholds, or streaming-hour milestones.
• Format supervision fee: a flat fee per local adaptation plus royalties on downstream revenues.
• Clear sublicensing terms: permission only with consent; caps on discounts; audit on sublicensed revenue.
• Data rights: standardized delivery of performance data — weekly/quarterly, with access to audience demographics and platform KPIs; ensure your data infrastructure and compliance are robust (see compliant data infrastructure examples).
• Audit & dispute resolution: independent audits at your cost-plus, and an arbitration clause in a neutral jurisdiction.
• Moratorium on detrimental edits: approval rights for changes that materially alter the format’s DNA.

Negotiation tactics

1. Lead with a concise term sheet that prioritizes reversion and backend participation.
2. Use data as leverage — show comparative performance of your format, especially social and short-form KPIs.
3. Offer optionality — bundle options into the deal (e.g., first-refusal on sequels) rather than giving everything away upfront.
4. Ask for a pilot/rollout incentive — performance bonuses that fund subsequent seasons or scale international rollouts.

How buyers — broadcasters and streamers — are likely to react

Consolidation simplifies vendor management for buyers but increases their dependency on large suppliers. Expect these buyer behaviors:

• Preferential deals: Multi-year, multi-format output deals with big producers to secure steady supply.
• Data requests: More stringent demands for cross-territory performance and demographic breakdowns before commissioning.
• Increased co-financing: Buyers may co-finance international versions to keep IP close and influence creative control.
• Consolidation counter-measures: Strategic partnerships with indie producers to diversify their vendor base.

Predictions for the market in 2026 and near-term outcomes

Based on the Banijay–All3 talks and late-2025 signals, here are practical predictions to plan around:

1. More bundled rights deals: Large houses will push multi-format packages, making single-format licensing more competitive.
2. Rise of hybrid economics: Expect lower upfronts with higher performance-linked payments — macro pressures are already visible in the market (Q1 2026 macro snapshot).
3. Standardized reporting: Consolidated players will propose standardized KPIs — creators should ensure those KPIs align with remuneration triggers.
4. Increased co-productions in local markets: Big producers will partner with local indies to adapt formats faster and cheaper. Local festival and market routes can accelerate discovery (festival strategy).
5. Premium for proven social-first IP: Creators with cross-platform traction will command better terms and avoid full buyouts.

Case examples and practical wins

Two practical takeaways illustrated by recent developments:

• Catalog strength matters: When two strong catalogs sit under one roof, buyers are more likely to sign long-term output deals that bundle formats. If you own a signature format, negotiate to be part of the bundle at a premium rather than accept a low standalone fee.
• Co-pro supervision pays: If your format is adapted across multiple territories, charge a supervision fee and set royalties for format fidelity. That steady income can outstrip a one-time buyout.

"Consolidation concentrates bargaining power — but it also creates scale that, with the right deal structures, can accelerate global rollouts and increase backend revenue for format owners."

Checklist: Immediate actions for format owners and creators

Use this checklist in negotiations and business planning in 2026:

• Audit your current contracts for blanket buyouts and reversion clauses.
• Create a one-page term sheet prioritizing reversion, backend shares, and data rights.
• Collect and standardize cross-platform audience metrics to present to buyers.
• Identify 2–3 co-pro partners in priority territories and prepare a simple co-pro term framework.
• Update your format bible to a digital-first version that supports quick adaptation and supervision.
• Talk to counsel about adding audit and independent arbitration provisions aligned to your jurisdictional strategy.

What success looks like in a consolidated market

Success won't come from resisting consolidation — it will come from playing the new game strategically. Winning creators and format owners in 2026 will:

• Retain meaningful upside through backend participation and reversion rights.
• Use data to prove format value and negotiate KPI-linked compensations.
• Leverage co-production and supervision to maintain creative control and ongoing revenue.
• Diversify routes to market rather than relying on a single consolidated counterparty.

Final takeaways

The Banijay–All3 discussions are a clear signal that 2026 will be a year of intensified consolidation. For format owners and creators, the immediate risks are loss of negotiation alternatives and standardized contracts that can erode long-term value. But the opportunities are real: accelerated global rollouts, stronger distribution channels, and better packaged deals — if you enter negotiations armed with data, smart contract terms, and a co-production strategy.

Call to action

Prepare now: download our negotiation term sheet template and co-production checklist to use in meetings with large producers. If you’re a creator or format owner navigating offers from consolidated houses, subscribe to our weekly industry brief for timely alerts, model contracts, and case-study breakdowns that translate market moves into actionable deals. For practical guidance on pitching, see Pitching to Streaming Execs: What Disney+ EMEA Promotions Reveal.

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