Banijay CEO Marco Bassetti Discusses Industry Consolidation and AI Impact at SXSW London
Banijay CEO Marco Bassetti recently spoke at SXSW London, where he addressed the topic of potential acquisition plans for ITV Studios. When asked directly about buying ITV Studios, Bassetti did not provide a definitive answer, stating that there are no immediate plans for such a deal. However, he declined to comment further when pressed for a firm denial.
During the panel discussion, Bassetti emphasized the need for consolidation in the media industry, highlighting the importance of scale for companies to remain competitive. He noted that industry consolidation is no longer optional but necessary for survival in today’s marketplace.
Bassetti explained that companies need a big distribution branch and financial resources to invest in content creation in order to stay relevant in the market. He mentioned Banijay’s investments in cloud infrastructure to better monetize their intellectual property and finished content.
Scale also plays a crucial role in negotiations with streaming platforms, allowing companies to retain ownership of their intellectual property. Bassetti highlighted the leverage that scale provides in these discussions, giving companies the opportunity to maintain control over their content.
Regarding artificial intelligence’s impact on content creation, Bassetti expressed both optimism and concern. While AI presents opportunities for cost reduction and efficiency, he also expressed apprehension about potential misuse of the technology. He shared an anecdote about seeing an AI-generated video of himself dancing, even though he had not actually danced.
Despite his concerns, Bassetti acknowledged that AI could have a significant role in the creator economy, where cost reduction is essential for monetization. He stressed the importance of embracing new technologies while being mindful of their potential drawbacks.
