Global TV in 2026: Why Bigger Studios Are Buying Smaller Format Houses

Global TV in 2026: Why Bigger Studios Are Buying Smaller Format Houses — and What Indies Should Do Now

Hook: If you’re an indie producer, showrunner, or sales agent, the headlines about mega-mergers can feel like bad news: fewer buyers, less negotiating leverage, and more gatekeepers. But consolidation also creates new global pipelines — and with the right data-led strategies you can turn industry concentration into wider international reach.

Top line — the immediate story

Early 2026 opened with a striking example of the consolidation wave reshaping global TV: discussions between Banijay and the RedBird IMI-backed All3Media to merge production assets. News outlets flagged the talks within days, framing them as the latest step in a decade-long acquisition spree by Banijay that already includes Zodiak and Endemol Shine integrations. For format-heavy catalogs (MasterChef, The Traitors and dozens more), that consolidation is an aggressive bet on scale, cross-territory exploitation and centralized distribution muscle.¹

“Already, there have been plenty of signs that consolidation will be the buzzword of 2026 in international entertainment.” — Jesse Whittock, International Insider, Jan 2026

Why consolidation is accelerating in 2026

The merger chatter in 2026 is not random. Five structural forces are pushing big studios to buy smaller format houses and sales agents:

• Format value and reuse: Proven formats travel easily — one well-selling format can spawn dozens of localized versions with low marginal creative cost and high margins.
• Distribution scale and platforms: Global streamers and FAST platforms want reliable, high-volume supply. Consolidated studios offer larger catalogs and predictable release pipelines.
• Rights centralization: Owning format and distribution rights across territories reduces negotiation friction and ensures better revenue capture. Structure your deals to protect IP and retain key spin-off rights by following modern creator rights and licensing practices.
• Cost efficiencies: Centralized production, sales and legal functions cut overheads and accelerate rollouts in new markets.
• Data leverage: Bigger groups can invest in analytics to identify which formats travel best, optimize pricing, and target buyers by territory and platform — this is where modern MLOps & feature-store practices add value to format strategy.

These forces are visible across late 2025–early 2026 market activity: the push for international catalogs at market events, increased activity among French sales agents at Unifrance’s 28th Rendez-Vous in Paris, and high-profile strategic deals in indie TV production.²

Historical context: not a new trend — a new scale

Consolidation has been a constant in media since the 1990s, but the past decade changed its pace and logic. Where earlier acquisitions aimed at vertical integration (studios + broadcasters), the 2020s feature horizontal consolidation among independent format producers and sales houses. The aim: create global catalogs that can be monetized repeatedly across SVOD, AVOD, FAST, linear, and local broadcasters.

Banijay’s strategy is illustrative: the group has consistently bought complementary format-rich houses to build a library that appeals to both broadcasters and streamers. Those earlier moves (Zodiak, Endemol Shine) show the strategic path: buy well-known IP, standardize distribution, then push localized production across territories. The Banijay–All3 talks in 2026 are the same logic at a larger scale — combining two global format portfolios to create pricing power and distribution reach.

Data signals: what the markets and festivals are telling us

Market-level data points (observed across trade markets and industry reports in 2025–2026) reinforce the consolidation rationale:

• Format sales remain a consistent revenue driver: buyers prioritize tried-and-tested IP over one-off originals because formats reduce commissioning risk.
• International markets like Unifrance’s Rendez-Vous recorded increased participation from non-French buyers and TV buyers — evidence that sales agents who internationalize are winning more global deals.
• Streamers increasingly license multiple territories and seasons in single deals — favoring partners that can supply multi-territory rights on bundled terms.
• Data monetization (audience analytics, format performance metrics) enhances bargaining power for groups that own data across territories — invest in reliable storage and creative asset workflows to make your metrics credible (creator storage workflows).

At the 2026 Unifrance Rendez-Vous in Paris, more than 40 film sales companies and an expanded selection of audiovisual sales houses showcased catalogues to 400 buyers from 40 territories — a sign that local producers who invest in sales infrastructure are better positioned to access the global pipeline.²

Case study: Banijay & All3 — what the pairing would mean

Use this hypothetical post-merger view to understand the consolidation mechanics and their implications.

What Banijay gains

• Complementary formats: Access to All3’s roster adds niche formats that fill gaps in Banijay’s lineup and reduce cannibalization across territories.
• Sales agent relationships: The merged entity would inherit All3’s distribution networks and buyer relationships, speeding international rollouts.
• Operational synergies: Shared production facilities, centralized legal/rights teams, and combined analytics functions improve margins — and these shared production models increasingly involve real-time VFX and virtual production scaleups (virtual production farms).

What All3 gains

• Scale and financing: Bigger balance sheets, easier access to debt, and the ability to underwrite larger co-productions.
• Global marketing: Better marketing muscle for formats, especially in non-core territories where All3 previously had limited presence.
• Longevity for creators: A bigger parent can commission follow-ups and spin-offs, increasing lifetime value for IP owned by All3 creators.

Risks and friction points

• Integration risk: Merging creative cultures, rights frameworks, and sales teams is complex and can slow business if mismanaged.
• Regulatory scrutiny: Large cross-border mergers attract competition regulators — especially in Europe — which can impose conditions or delays.
• Consolidation of decision-making: Centralized greenlighting may privilege big-bet formats over experimental indie projects.

What this means for the French film and TV market

France has a strong indigenous creative ecosystem supported by public funding and active sales agents. The 2026 markets show a French industry that is both protective of local culture and eager to export. Consolidation among format houses impacts France in three ways:

1. Export opportunities: Larger groups increase the odds of French formats reaching international buyers if those formats fit global demand.
2. Pressure on independents: Small French producers may struggle to compete for platform slots if global studios prioritize their internal catalogues.
3. Sales agent renaissance: French sales houses that double down on bilingual pitching, co-pro financing knowledge, and market relationships can become attractive acquisition targets — or preferred partners — for global buyers. Modernizing sales infrastructure often means rethinking how you present and price rights in a digital marketplace (marketplace & discovery).

At events like Unifrance’s Rendez-Vous, the message is clear: internationalization and stronger sales infrastructures aren’t optional. Sales agents and producers who internationalize their business models win more territory deals and better licensing terms.

Practical, actionable advice for indie creators and small sales agents

Consolidation changes the playing field, but it doesn’t close it. Indies can thrive by adopting a strategic, data-driven approach. Below are tactical moves you can implement immediately.

1. Treat IP as modular and defensible

• Structure deals to retain format elements where possible — reserve underlying format rights or key spin-off rights. See creator licensing & samplepack guidance for modern clauses.
• Use short-term licensing with renewal triggers tied to performance metrics to avoid one-off sales that strip long-term value.

2. Build or partner for distribution scale

• Work with boutique sales agents with deep buyer relationships in target territories rather than chasing the biggest offer.
• Consider co-distribution deals where you keep certain territories (e.g., France, Benelux, Nordics) and sell others in bundles.

3. Use data to prove travelability

• Collect and present audience data from pilots, social platforms, and FAST channels to show buyer demand trends — invest in reproducible analytics stacks and MLOps to make claims verifiable (MLOps & feature stores).
• Commission short-form testing (clips, verticals) to validate audience hooks in multiple languages before pitching full seasons — ensure you have low-latency distribution and edge caching for tests (edge caching & cost control).

4. Think multi-format and spin-off-ready

• Design formats with clear local windows and spin-off potential (companion podcasts, live events, short-form social segments). Monetization of live companion content is a growing area (live event monetization).
• Include format bibles and localization notes in your pitch package to reduce buyer localization costs — store and share assets via creator-friendly storage workflows (creator storage workflows).

5. Join markets strategically — not scattershot

• Prioritize markets where your genre performs: Unifrance Rendez-Vous and Paris Screenings for French-language projects; MIPCOM/Europa for international buyers.
• Use market presence to secure multiple pre-sales; multiple small pre-sales can beat a single large but restrictive deal. Treat market participation like a micro-event that produces data and pre-sales (micro-events data playbook).

6. Negotiate smart rights and revenue share

• Ask for transparent reporting and audited statements for royalties/licensing revenue.
• Negotiate escalation clauses for format exploitation (e.g., higher producer share if a format hits specified international sales thresholds) — modern rights frameworks and samplepack licensing examples can help (creator licensing).

7. Partner for scale when needed

• Consider short-term strategic partnerships with larger studios for marketing and distribution, while retaining creative control or key rights.
• Look for co-development deals where a studio funds a development window but doesn’t acquire global rights upfront.

How sales agents should adapt

Sales agents are the bridge between indie creativity and studio pipelines. To remain decisive players, agents should:

• Invest in localized buyer intelligence: Know what each platform and country buyer needs and tailor pitch lists.
• Standardize digital assets: High-quality subtitles, key art, short teaser reels and format bibles reduce buyer friction — combine this with robust storage and archival workflows (storage workflows).
• Offer bundled rights strategies: Present tiered packages: single-territory windows, multi-territory bundles, and full-exploit deals.
• Develop data packages: Provide viewership and engagement metrics to justify pricing and territory selection — regional price signals and microdata help set realistic asks (regional price signals).

Future predictions: what the landscape will look like by late 2026–2027

Based on current deal momentum, by late 2026 and into 2027 we expect:

• Fewer, larger catalog owners: A smaller number of global groups will control a bigger share of format catalogs and distribution racks.
• More bundling and cross-licensing: Buyers will negotiate multi-title, multi-territory packages instead of one-off deals.
• Heightened regulator scrutiny: European competition watchdogs and cultural protection mechanisms will impose conditions, especially when public funds or cultural quotas are involved.
• Opportunities for vertical specialization: Niche indie houses focusing on regional language content, unscripted innovation, or premium scripted formats will be attractive acquisition targets or partnership candidates.

Checklist for indie creators: six things to do this quarter

1. Audit your rights: map who owns what for each project and prioritize what to retain.
2. Build a two-page data brief: audience metrics, pilot performance, and social traction for each format.
3. Prepare a format bible with localization notes and suggested local partners — package it with clear assets and storage links (format & asset workflows).
4. Identify three sales agent partners (one boutique, one regional, one global) and request feedback on your pitch.
5. Negotiate sample contract clauses that preserve spin-off rights or reversion clauses if distribution stalls.
6. Plan a market calendar: pick the top two markets in 2026 that match your genre and budget to attend live or virtually.

Final analysis — risk, resilience, and opportunity

Consolidation in global TV is not purely a threat to independents — it is a re-shaping of opportunity. Larger studios create predictable, well-financed pipelines, while also raising the bar for data, localization and sales sophistication. Indies that survive and thrive will be those that professionalize rights management, present data-backed travelability, and build partnerships that combine creative agility with distribution reach.

For French creators and sales agents, the 2026 moment (highlighted at events like Unifrance Rendez-Vous) is a wake-up call: internationalization is rewarded, and sales houses that modernize will either scale or be absorbed. For buyers like Banijay and All3, the consolidation play is a bet on repeatability and efficiency — a bet that, if executed well, will create global catalog champions that define programming for the rest of the decade.

Sources and further reading

• Jesse Whittock, "Banijay & All3 Cozy Up," International Insider, Jan 2026 — reporting on Banijay/All3 discussions and consolidation trends. Deadline.
• Coverage of Unifrance Rendez-Vous, Paris (Jan 2026) on French film sales and internationalization. Deadline.
• Historical Banijay acquisitions: Zodiak (2015) and Endemol Shine (2020) — context for consolidation strategy. Deadline (Zodiak), Deadline (Endemol Shine).

Takeaway and call-to-action

Takeaway: Consolidation brings both friction and new routes to global audiences. The winners will be indies and sales agents who professionalize rights management, use data to demonstrate travelability, and negotiate partnership-first deals that preserve upside.

CTA: Ready to future-proof your format or sales strategy for a consolidated market? Subscribe to our Industry Briefing for weekly data-led insights, or contact our editorial team to request a practical rights audit template and a pitch-ready format bible checklist — built for 2026 buyers.

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