What Consolidation in 2026 Means for International TV Formats: Banijay, All3 and the Global Game Show Machine

Hook: Why You Should Care About the Banijay–All3 Talks — and What It Means for Your Job, Your Show, and the Next Big Format

If you've ever scrambled to find reliable news about who actually controls the TV formats your production company depends on, you’re not alone. The early 2026 talks between Banijay and All3 parent RedBird IMI signal a wave of consolidation that directly hits three pressure points for the international TV business: what gets made, who gets hired to make it, and how formats travel across borders. For producers, casting directors, international distributors and creatives, that can mean more predictable licensing checks — or fewer experimental slots on schedules and thinner development budgets for risky ideas.

Quick take: The inverted pyramid — what's happening and why it matters now

Most important: Banijay and All3 parent RedBird IMI entered deep merger talks in January 2026, a move Deadline flagged as the opening salvo of a consolidation wave in indie TV production. This follows Banijay’s previous absorption of rivals like Zodiak and Endemol Shine and positions a new super-player to control a sizable share of the global format catalogue — including proven franchises such as MasterChef and modern hits like The Traitors.

Why it matters: Consolidation accelerates format farming — the repeated, global recycling of high-performing IP — improving export efficiency and licensing leverage while squeezing local creative space and reshaping production job markets.

Short-term outcomes you can expect in 2026: larger format bundles sold to streamers and broadcasters, fewer experimental local commissions, a bigger premium on formats that play well internationally, and more co-productions and centralized production hubs.

How we got here: A quick history of “format farming” and consolidation

Format farming — the systematic development, replication and export of successful TV formats — is not new. But its scale and sophistication grew over the 2010s and 2020s as companies consolidated to control both IP and distribution. Banijay’s prior mergers (notably with Zodiak and Endemol Shine) created catalog depth. All3Media, under private-equity ownership and new strategic investors like RedBird IMI, has also bulked up its catalogue and distribution capabilities.

By late 2025 and into early 2026, industry coverage made clear the next phase: fewer, larger entities owning the most bankable formats. The January 2026 reporting about exploratory talks between Banijay and All3Media’s parent amplified what insiders had already been saying — consolidation would be a defining trend of 2026.

What consolidation practically does to TV formats

Consolidation shapes formats in four concrete ways:

• Acceleration of export cycles: Larger catalogues mean package deals; a broadcaster or streamer can license a franchise and buy adjacent rights across territories.
• Standardization: With centralized format owners comes tighter format bibles and stricter compliance, reducing local adaptation scope.
• Investment concentration: Winners (big franchises) receive more marketing, higher production values and global rollouts; lower-tier formats get starved or shelved.
• Negotiating leverage: Fewer sellers means stronger pricing power and tougher contract terms for licensees and local producers.

Case studies: MasterChef and The Traitors — two sides of the same coin

MasterChef: The evergreen export machine

MasterChef demonstrates classic format farming at scale. The brand persists because it is robustly engineered for local adaptation: clear rules, tight episode structure, and castable personality archetypes. Consolidators invest in MasterChef because it reliably delivers ad-friendly audiences, streaming clips and short-form social content that travel globally.

Advantages under consolidation: faster global rollouts, higher-value bundles for broadcasters, and cross-promotional opportunities ( merchandise, branded content, streaming spin-offs). Downside: fewer creative deviations — if regional producers want to radically rethink the format, they’ll likely need explicit permissions or buyouts.

The Traitors: A modern format with built-in drama and export velocity

The Traitors is emblematic of the modern format lifecycle: a compelling game mechanic that demands high production craft and yields strong social engagement. As it gained international versions (UK, US, Australia, and more), control of the format became a lever for channel positioning as well as a licensing cashcow.

Under consolidation, shows like The Traitors can be scaled rapidly, but centralized owners may standardize casting types and editing templates to maximize global parity — again limiting local creative signatures.

Export markets — winners and losers

Consolidation reshuffles export marketplaces in predictable ways:

• Winners: Major broadcasters, global streamers, and consolidated format owners who prefer turnkey, scalable franchises. They benefit from lower transaction friction and larger content bundles.
• Losers: Niche buyers and small broadcasters seeking distinctive local content; independent creators with risky, high-concept formats that don’t have immediate global appeal.

But it’s not binary: there's room for distinctive local hits that use a global backbone while injecting unique cultural elements. Savvy local producers will sell

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