Hachette and StudioCanal are joining forces to better exploit an underestimated niche: literary adaptation

The two giants of the French cultural industry, both owned by billionaire Vincent Bolloré, announced on Tuesday, May 5, the creation of a joint venture called On Screen. Hachette Livre, France's leading publisher with a projected turnover of €3 billion in 2025 and a catalog of over 100,000 titles, is partnering with StudioCanal, Europe's leading film and television studio, to jointly develop film and television adaptations of literary works. Bolloré acquired control of Canal+ in 2012 and of Lagardère—Hachette's parent company—in 2021.

40% of the global box office, less than 10% of production: a largely untapped potential

The figures justifying this partnership are telling: adaptations of literary works now represent nearly 40% of the world's top 100 box-office hits, while constituting less than 10% of total film production, according to the two companies. Among the emblematic successes of recent decades are Tolkien's The Lord of the Rings, Jane Austen's Pride and Prejudice, Alexandre Dumas's The Count of Monte Cristo, and Olivier Bourdeaut's Waiting for Bojangles. These adaptations "outperform on screen, both commercially and critically," their joint statement emphasizes, but "a significant portion of this potential remains untapped, as publishers are still only capturing a limited share of the long-term value generated by these adaptations." On screen will therefore be tasked with identifying and developing projects from Hachette's vast catalogue, while StudioCanal will bring its expertise in creative design, financing, production and international distribution — the studio producing and distributing nearly half of the 200 films and 80 series of the Canal+ group each year.