Variety: M6 CEO David Larramendy Addresses Possible Sale, New Cyril Hanouna Show and Future Streaming Plans in Series Mania Talk

Story from Variety:

In a wide-ranging keynote address at Series Mania in Lille, M6 CEO David Larramendy laid out his ambitious vision for the future of one of France’s leading broadcasters. Reflecting on a transformative year and anticipating further changes, Larramendy emphasized the group’s strategic pivot toward streaming, fiction and content reinvention in a competitive global media landscape.

Addressing rumors about a possible sale of M6, Larramendy deflected speculation: “Is M6 for sale? I don’t know. Ask our shareholder.” However, he acknowledged that the French media market needs consolidation. Due to current regulations, M6 cannot be sold before 2032, but he supports revisiting those rules.

“If the law changes, consolidation could happen,” he said, noting past interest from TF1 and new expressions of interest from others.

In a high-profile talent acquisition, TV host Cyril Hanouna will join M6 in September. “He’s one of the last real stars of television,” said Larramendy. While Hanouna has been a polarizing figure, the CEO stressed the focus will be on entertainment, not politics. “We don’t intend to do politics—we’re here to entertain.”

According to Larramendy, Hanouna is set to host a new show on the W9 network. This comes during the same week in which Hanouna ended his long-running and highly controversial series “Touche Pas à Mon Poste!” (Don’t Touch My TV Set!), which received sanctions of €7.6 million ($8.2 million) during its 15-year run across several networks.

Larramendy hailed the success of M6+, the group’s revamped streaming platform launched in May 2024. “We launched with a tight deadline to be ready for the Euro football championship,” he said, noting the platform exceeded expectations with a 35% increase in advertising revenue, jumping from €74 million ($79.9 million) on M6 Replay to €100 million ($108 million) in its first year.

With goals to triple revenue to €200 million ($216 million) and reach 1 billion hours of viewing by 2028, Larramendy believes M6+ is on track, if not ahead of schedule. The platform’s leading content — fiction, drama and reality shows like “Top Chef” — now garners 20–40% of views digitally, reshaping programming decisions across the board.

Acknowledging changing viewing habits, Larramendy outlined a shift in content strategy, especially the group’s increased investment in locally produced fiction. “Ten years ago, M6 was known for American series, airing them three nights a week,” he explained. “Now, those slots are dedicated to original French productions.”

He pointed to initiatives like “Clean,” a drama inspired by the 2015 terrorist attacks, and “Inside,” a high-concept series in production involving nearly 200 professionals and 30 screenwriters. With production set to begin on April 14, the series is scheduled to air this summer, showcasing M6’s commitment to homegrown, binge-worthy storytelling.

M6+ Max, a subscription tier offering commercial-free previews and exclusive content, is set to expand the group’s streaming footprint. Though still relatively confidential, Larramendy confirmed that new titles would debut on M6+ Max before traditional broadcast.

Facing intensifying competition from global players like Netflix and Amazon, Larramendy argued for strategic partnerships. “There’s fierce competition, but it drives quality and raises viewer expectations,” he said. He revealed M6’s first co-financed TV series, “Belphégor,” developed with Max, based on the classic 1960s French supernatural tale. “We’ve done this in cinema before, but this is a first for our TV series.”

''While platforms are competitors, Larramendy views them as potential partners too: “We can collaborate on one project, and compete the next day. That’s the reality of our industry.”

France’s upcoming TNT channel reordering will move M6-owned children’s channel Gulli from number 18 to 12. Larramendy welcomed the change, calling it “moderately good news,” and pledged to invest more in prime-time programming for Gulli, especially family-friendly fiction after 8 p.m.

Although net income dropped in 2024 due to major expenditures — such as coverage of the Euros and M6+’s launch — M6 will maintain its €530 million ($572.4 million) annual investment level in 2025. Fiction and drama remain top priorities. “We’re doubling down, especially on series,” he said. Despite the financial strain, Larramendy affirmed M6’s profitability, citing an 18% EBITDA margin—among the best in its category.

As he approaches his second year as CEO, Larramendy expressed enthusiasm for M6’s evolving mission. “We deal with everything—from politics to creativity to commercial pressure—all in a single day,” he said. He celebrated the company’s diverse reach, from cinema (where M6-backed films made up 40% of tickets sold in 2024) to radio (with RTL).

“We have to protect our brands, take creative risks, and invest in the future,” he concluded. “It’s a great company, and I love what I do.”