Banijay Group Claims Minority Stake in Italy's DRY
The company has announced an investment in a brand-new production company in Italy.
Banijay Group, the world’s largest independent content creation company for television and multimedia platforms, on Monday announced its acquisition of a minority state in the brand-new Italian company DRY, or Don’t Repeat Yourself.
DRY was formed by Italian producers Fabrizio Ievolella, Danila Battaglini, Francesco Lauber and Leopoldo Gasparotto to produce Italian versions of popular international series as well as to develop original programming for Italian and international markets. Its partners have a wealth of experience producing Italian versions of Masterchef, X Factor, Italia’s Next Top Model and Undressed.
“My business partners and I are very proud of our TV background but we have chosen the name DRY — Don’t Repeat Yourself — for a specific reason,” commented Ievolella. “We know that experience is important but sometimes involves the risk to become stuck in a rut. That’s why our goal is not to repeat ourselves and look to invent something new.”
“Banijay Group is at the forefront of ground-breaking and original content production," said Banijay Group CEO Marco Bassetti. "There is a great deal of creativity emanating from the highly motivated management team at DRY and we look forward to working closely with them and to effectively rolling out innovative formats around the world.”
In February, Banijay Group merged with Zodiak Media to become one of the biggest independent media companies operating today, with a library of more than 20,000 hours and revenues estimated at $1 billion. Vivendi owns a 26.2-percent share in the combined company.
The news marks a further move toward ramping up Italian original programming as networks strive to compete against newcomers in the market including Netflix. Recent Sky hits such as Gomorrah and 1992 consistently outrank international shows within the country.