International TV Consolidation: What Banijay & All3 Media Means for Local Formats

Hook: Why Asia's local TV makers should care about one merger across the globe

If you've ever struggled to find reliable buyers for a local game-show format, wrestled with shrinking production budgets, or worried that global catalog deals leave your show lost in a pile of international formats — this consolidation news matters. In early 2026 the industry woke up to talks between Banijay and the owners of All3Media. That deal — part of a wave of 2025–26 mergers — could reshape how global formats like MasterChef and The Traitors are licensed, adapted and monetized in Asia.

Top line (most important first): What happened and why it matters now

Reports in January 2026 indicated that Banijay and the private-equity-backed owners of All3Media were deep in talks to merge production assets. Industry watchers flagged this as the first major move of a consolidation-driven 2026. If completed, the merge would combine two of the world's largest format factories — expanding catalog scale, buyer leverage, and global distribution muscle.

Why this is urgent for Asian producers, broadcasters and creators: larger format owners can streamline global rollouts and co-finance premium local adaptations — but they can also centralize licensing, increase fees, and prioritize formats that travel easily across markets. For countries across South and Southeast Asia, Japan, South Korea and India, the stakes include who controls format rights, who sets localization budgets, and how cultural specificity gets protected (or eroded).

"Consolidation will be the buzzword of 2026" — early trade coverage flagged this trend as a defining theme. (Industry reporting, Jan 2026)

How consolidated global catalogs change format economics

To understand the impact, start with these direct economic shifts a larger Banijay+All3 portfolio would create:

• Bundled licensing: Buyers (broadcasters, streamers) can buy package deals across territories, which raises the value of a consolidated catalog but reduces single-format bargaining power for local sellers.
• Scale financing: Bigger groups can co-finance higher-budget local adaptations, enabling cinematic reality shows or formats with complex production tech.
• Centralized terms: Licensing clauses (exclusivity, digital windows, merchandising) get standardized — helpful for big buyers, painful for local producers used to ad-hoc deals.
• Distribution leverage: Cross-territory promotion is easier: a hit in Korea can be pushed into Southeast Asia with the group's sales team and platform relationships behind it.

What that means for formats like MasterChef and The Traitors

High-profile global properties that already exist in multiple local versions — MasterChef (a legacy culinary format) and The Traitors (social-game format) — become more than shows: they are IP-driven franchises with global merchandising, spin-off potential, and format variants. Under one roof, these formats could see:

• Faster, coordinated rollouts into new Asian markets using a single licensing playbook.
• Investment in premium local versions (larger casts, higher production values, cross-border celebrity judges or hosts).
• Greater pressure to standardize the format blueprint — risking cultural flattening unless local producers actively defend adaptation elements.

Regional case studies and experience: What we've seen already

Past consolidation offers clues. Banijay's acquisitions of Endemol Shine (2020) and Zodiak (2015) show patterns that repeat:

• Following those buys, certain catalog titles received global push campaigns and premiumed renewal budgets, while smaller local formats struggled to get sales support.
• Local partners that negotiated co-productions early secured more creative control and better revenue splits than those that took standard license deals later.
• Streaming platforms often preferred the consolidated catalog for international rollouts — but they also asked for extended digital windows and exclusivity in multiple markets.

These examples show the playbook: consolidation funds scale but also centralizes decision-making. In Asia — where market dynamics vary widely — that centralization can help or hurt depending on who secures the right terms.

Opportunities for Asian creators and producers

Consolidation brings clear openings you can pursue now. Here are practical, actionable strategies to turn the merger-driven landscape to your advantage.

1. Negotiate for co-development and co-ownership

Don't accept straight license deals by default. Aim for co-development terms that include:

• Shared IP ownership for locally originated format twists.
• First-refusal or buy-back clauses if the global owner wants to scale into adjacent markets.
• Revenue shares across format extensions (merch, live events, digital).

2. Build a localization dossier

When pitching a local take, bring data and cultural proof:

1. Viewer insights (ratings, social trends, short-form engagement metrics).
2. Talent attachments or local celebrity interest letters.
3. Regulatory clarity (language quotas, content standards) and a clear localization plan.

Large format owners prioritize low-friction rollouts. Make it easy for them: reduce execution risk by presenting a ready-to-produce package.

3. Leverage the group's distribution, but diversify monetization

Use the global distribution muscle to secure territory windows, then layer other revenue streams:

• Live experiences (tours, local finals) tied to the show.
• Sponsored content and branded segments sold regionally.
• Direct-to-consumer digital extensions (short-form series, behind-the-scenes) where rights revert or are licensed directly.

4. Protect cultural IP in contracts

Clarify in writing which cultural elements are non-transferable or must be retained in adaptations. Examples:

• Local culinary traditions or judge criteria for food shows (protect the integrity of regional cuisine).
• Specific game mechanics tied to cultural rituals or holidays.

Risks and how to mitigate them

Consolidation raises several real risks for local TV ecosystems. Below are the main threats and practical mitigations.

Risk 1: Higher licensing costs and fewer buyers

As catalogs bundle, single buyers may face higher fees or have less room to negotiate.

Mitigation:

• Form local consortia to co-produce and co-license — spread costs and increase negotiating leverage.
• Pitch local-only formats that are cheaper but culturally unique; these are still attractive to platforms seeking local authenticity.

Risk 2: Homogenization of content

A centralized format playbook can erode the unique cultural elements that make local versions compelling.

Mitigation:

• Insist on cultural consultants in creative control clauses.
• Document and register local format elements (treatment, bibles) to protect creative IP.

Risk 3: Platform-driven windowing that reduces ad revenue

Streamers’ preference for exclusivity and delayed ad windows can shrink broadcaster ad revenue.

Mitigation:

• Negotiate clear cross-platform windows (linear, BVOD, SVOD) that preserve advertiser value.
• Sell bespoke branded integrations that live across windows and platforms.

Regulation & competition: what to watch in 2026

Global competition regulators have become more active after a flurry of 2024–2025 media deals. Expect greater scrutiny in Europe and the UK, which could change deal structures or impose behavioral remedies. In Asia, regulatory responses will be market-specific:

• India: price sensitivity plus local content requirements mean buyers will look for formats that can be cheaply localised and gain mass reach.
• South Korea & Japan: rich local format ecosystems — consolidation can be an opportunity for cross-border collaborations but will face scrutiny around cultural preservation.
• Southeast Asia: smaller markets will benefit from scale if terms are fair, but governments may protect local producers via incentives.

2026 trends to plan for (short and medium-term)

Recent developments in late 2025 and early 2026 point to several trends worth building into your strategy now:

• Format bundling and global packages: Buyers prefer simplified deals. Prepare to pitch as part of a package or offer add-ons that make your show attractive within a bundle.
• Digital-first spin-offs: Short-form, mobile-native versions of formats are now routinely greenlit before linear adaptations. Create vertical-friendly assets in advance.
• AI-driven testing: Groups are using AI to simulate format variants and test audience responses. Build fast-turn prototypes and data-backed KPIs to prove concept.
• Local production hubs: Production centers in Thailand, Malaysia, the Philippines and India are expanding; leverage competitive costs and skilled crews.

Practical playbook: step-by-step actions for different stakeholders

For independent producers

1. Create a format bible and a 5-episode proof-of-concept reel that demonstrates local flavour and scalability.
2. Secure legal counsel experienced in format IP and insist on co-development and revenue-sharing clauses.
3. Build a pitch deck that shows cross-platform monetization — streaming, live, branded content, and D2C — not just linear ratings.

For local broadcasters

1. Negotiate multi-territory windows only when you can secure exclusives or favorable ad splits.
2. Invest in local format R&D: incubators that can adapt global formats with genuine regional voice.
3. Partner with local producers for first-look deals to protect pipeline access and reduce costs.

For creators and format designers

1. Document your IP and gather evidence of cultural origin to strengthen bargaining power.
2. Collaborate with regional distributors to test short runs on digital platforms and collect viewer data.
3. Consider building parallel short-form content as proof of concept to attract larger format owners.

What success looks like: examples and measurable outcomes

Use these KPIs to evaluate whether a deal with a consolidated group is working for you:

• Percentage of revenue retained by the local producer (target: >30% of post-cost revenue across broadcasters & digital).
• Number of additional territories opened by the global partner within 12 months.
• Incremental monetization outside linear (D2C subscriptions, branded segments, live events) as share of total revenue (target: 20–30% within 2 years).
• Retention of core cultural elements as verified in creative control clauses and final cut rights.

Future prediction: five outcomes likely by 2028

Looking ahead to 2028, consolidation will have produced a mix of concentration and creative opportunity. Expect these outcomes:

1. Major format houses will operate regional hubs in Asia to fast-track adaptations.
2. Smaller local formats that emphasize culture and authenticity will be more valuable to platforms seeking differentiation.
3. AI will be widely used to prototype format variants — but human cultural curation will remain essential for successful local launches.
4. Regulators will require behavioral remedies in large mergers, making carve-outs and sublicensing more common.
5. New co-ownership models (local producer retains a stake) will become the standard for premium adaptations.

Final actionable checklist: what to do in the next 90 days

• Audit your current-format contracts: look for revert clauses, rights granularity and digital windows.
• Create a one-page localization dossier for each format you own or pitch — include budget, talent, and regulatory notes.
• Reach out to potential co-pro partners and begin term-sheet discussions with templates that demand revenue-share transparency.
• Build a short-form pilot or digital proof to present to consolidated catalog teams — speed wins in 2026 negotiations.

Conclusion: Start negotiating from strength

Consolidation — exemplified by the Banijay and All3Media talks of early 2026 — is reshaping the economics and pathways for format distribution across Asia. It brings scale, financing and reach, but also centralization and new bargaining dynamics. The winners will be those who prepare: document and protect IP, insist on co-development, diversify monetization, and prove local resonance with data.

Call to action

If you produce, pitch, or program local formats in Asia, don't wait. Audit your contracts, prepare a localization dossier, and reach out to trusted format advisors now. Subscribe to our regional coverage for weekly updates on the Banijay–All3 developments and practical deal templates tailored for Asian markets. Need a format contract checklist or a custom negotiation playbook? Contact our team to get a tailored consultation.

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