Panenka

What Panenka does

Panenka is a privately held Belgian media production company founded in Antwerp in 2014 by Tom Lenaerts and Kato Maes, producing content across three verticals: entertainment (quiz and game shows such as SWITCH and Taboe), fiction (drama series like Over Water and Twee Zomers, period whodunit This Is Not a Murder Mystery, dramedy Kassa Kassa), and documentary (Therapie, Het Leven in Kleur, Mobutu's Game, Het Vaticaan). The company also produces feature films, including Zondag de Negenste, which premiered theatrically via Paradiso Filmed Entertainment. Panenka operates a B2B production model with no direct consumer pricing: it co-produces with Flemish public and commercial broadcasters (VRT, RTL Belgium, Proximus Pickx, VTM, Play4) and streaming platforms (Streamz, Videoland, Netflix), layered with Belgian Tax Shelter investment vehicles that offer Belgian corporates a stated net yield of 12.77% over 18 months. International distribution is executed through specialist sales agents — LineUp Industries, ZDF Enterprises, France TV Distribution, Studiocanal, Federation Studios, About Premium Content — and through direct deals with global streamers including Netflix and HBO Max. The technology core is conventional television and film production; there is no disclosed proprietary software, AI/ML tooling, or platform architecture. Panenka's growth flywheel rests on format replication: Taboe has been remade in 9+ countries, Switch has produced 100+ episodes as Switch USA since 2021, and Two Summers is available in 180 countries via Netflix, generating licensing royalties and production support fees layered on top of domestic commissioning revenue. The firm funds productions through a consortium of public bodies (VAF, Screen Flanders, Screen Brussels, Creative Europe MEDIA, Screen Ireland) alongside broadcaster commissions and Tax Shelter capital, and is recognized via the Ensor awards, Prix Europa, Realscreen, EBU Format Awards, Rose d'Or nominations, and Series Mania.

Name

Panenka

Legal name

Panenka

Website

https://panenka.tv

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Panenka is a privately held Belgian media production company founded in 2014 in Antwerp, producing entertainment, fiction, and documentary content for Flemish broadcasters, Belgian streamers, and global platforms like Netflix and HBO Max, with international format licensing to 180 countries.

Ownership category

akta.pro rank

Product category

Television Content Production

NAICS

Motion Picture and Sound Recording Industries (512)

SIC

Services-Motion Picture & Video Tape Production (7812)

akta.pro primary industry

Enterprise/Creator Video Hosting & OTT SaaS Platforms (MPACAAAL)

akta.pro secondary industry

Stock Media, Asset Marketplaces & Licensing Platforms (BPAMAJAM)

Keywords

• Television production services
• Fiction series production
• Documentary production
• Entertainment format creation
• International format licensing

Headquarters

HQ city

Antwerp

HQ country

Belgium

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Co-production with Broadcasters: Panenka co-produces shows with Belgian broadcasters (VRT, RTL, Proximus) and streaming platforms (Streamz, Videoland, Netflix). Broadcasters provide funding and commissioning in exchange for broadcast rights.
2. Tax Shelter Investment: Panenka offers Belgian companies the opportunity to invest in audiovisual productions through the Belgian Tax Shelter mechanism, providing a potential net yield of 12.77% over 18 months through tax benefits and interest payments.
3. Format Sales and International Licensing: Panenka licenses their original formats internationally. Taboe has been remade in 9+ countries, Two Summers is available in 180 countries via Netflix, and Switch USA has produced 100+ episodes. Revenue comes from format licensing fees and production support.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Panenka is a Belgian media production company that develops and produces television content across three genres: entertainment (quiz shows, game shows, travel shows), fiction (drama series, whodunits, feature films), and documentary (human interest, political, and social-issue documentaries). The company produces content for Flemish broadcasters (VRT, VTM, Play4), Belgian streaming platforms (Streamz, Videoland), and international partners (Netflix, Studiocanal), while also licensing its original formats internationally and offering Tax Shelter financing opportunities to Belgian corporate investors.

Product overview

Panenka is a Belgian TV production company founded in 2014 by Tom Lenaerts and Kato Maes, producing content across three main genres: entertainment (quiz shows, reality formats), fiction (drama series and feature films), and documentary (human interest, investigative, and cultural documentaries). The company creates programming for Flemish broadcasters (VRT, VTM, Play4), streaming platforms (Streamz, Netflix, Videoland), and international distributors. Their product portfolio includes popular entertainment formats like the point-free quiz show SWITCH, the comedy-human interest series Taboo, and various decade-exploration series; critically acclaimed fiction including the whodunit This Is Not a Murder Mystery, drama series Over Water and Twee Zomers available on Netflix internationally, and feature film Zondag de Negenste; and impactful documentaries covering topics from therapy (Therapie), Vatican politics (Het Vaticaan), African history (Mobutu's Game), and social issues (Het Leven in Kleur, De Onfatsoenlijken). Many of Panenka's formats have been remade internationally, with Taboo produced in nine countries and Two Summers available in 180 countries via Netflix.

Differentiator

Problem solved

Functional benefit

Products and services

• 10 Broeders (10 Monks)

Quantifiable outcome

• Taboe remade in 9+ countries worldwide
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered core and minor.

• PlaycoreStrategic or Co-development Partner · 1 January 2025Belgian streaming platform co-producing 10 Monks with Panenka.
• TelenetminorStrategic or Co-development Partner · 1 January 2025Belgian telecom company co-producing 10 Monks.
• Orange Belgium / Be TVminorStrategic or Co-development Partner · 1 January 2025Belgian pay-TV operator co-producing 10 Monks.
• HBO MaxcoreChannel Partner/ Reseller/ Distributor · 1 January 2025International streaming platform co-producing 10 Monks.
• About Premium ContentcoreChannel Partner/ Reseller/ Distributor · 1 January 2025International distribution company handling worldwide sales of 10 Monks.
• Paradiso Filmed EntertainmentcoreChannel Partner/ Reseller/ Distributor · 1 January 2025Dutch film distributor handling theatrical release of Sunday Ninth in Belgian cinemas.
• RTBFminorStrategic or Co-development Partner · 1 January 2025Belgian French-language public broadcaster co-producing Mobutu's Game.
• Les Films de la PasserelleminorStrategic or Co-development Partner · 1 January 2025Belgian production company co-producing Mobutu's Game.
• VRT (VRT1, VRT Canvas, VRT MAX)coreStrategic or Co-development Partner · 1 January 2024Primary Belgian public broadcaster and co-production partner for multiple Panenka productions including This Is Not a Murder Mystery, Kassa Kassa, Taboe, Therapy, and Sunday Ninth. Provides commissioning, funding, and broadcast platform.
• RTL BelgiumcoreStrategic or Co-development Partner · 1 January 2024Belgian commercial broadcaster co-producing This Is Not a Murder Mystery and other Panenka productions.
• Proximus PickxcoreStrategic or Co-development Partner · 1 January 2024Belgian telecom and media platform co-producing This Is Not a Murder Mystery and other productions.
• Deadpan PicturesminorStrategic or Co-development Partner · 1 January 2024Irish production company co-producing This Is Not a Murder Mystery.
• New8minorStrategic or Co-development Partner · 1 January 2024Belgian production company co-producing This Is Not a Murder Mystery.
• StudiocanalcoreChannel Partner/ Reseller/ Distributor · 1 January 2024International sales agent handling worldwide distribution of This Is Not a Murder Mystery.
• StreamzcoreStrategic or Co-development Partner · 1 January 2024Belgian streaming platform and co-producer of Putain, 10 Monks, and Shelf Life (Kassa Kassa). Commissioning platform for original Panenka content.
• VideolandcoreChannel Partner/ Reseller/ Distributor · 1 January 2024Dutch streaming platform distributing Putain and co-producing original content.
• Federation StudioscoreChannel Partner/ Reseller/ Distributor · 1 January 2024International distribution company handling worldwide sales of Het Vaticaan (The Vatican).
• France TV DistributioncoreChannel Partner/ Reseller/ Distributor · 1 January 2022French broadcaster's distribution arm handling international sales of Two Summers.
• NetflixcoreChannel Partner/ Reseller/ Distributor · 1 January 2018International streaming platform distributing Over Water and Two Summers worldwide.
• ZDF EnterprisescoreChannel Partner/ Reseller/ Distributor · 1 January 2018International distributor handling Over Water for ZDF/Germany and other territories.
• LineUp IndustriescoreChannel Partner/ Reseller/ Distributor · 1 January 2016Format sales agent distributing Panenka entertainment formats internationally including Taboe, Switch, Therapy, and De Jaren series.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BBC Studios: International production and distribution operation of the BBC. Sets the standard for premium scripted and factual international distribution that mid-sized European producers such as Panenka target.
• ITV Studios: UK-based international production and global distribution arm of ITV. Comparable to Panenka at the format and co-production level — both develop local originals and monetize them internationally.
• Endemol Shine Group: International production and format-licensing group operating across drama, entertainment, and documentary. Provides benchmark for how scaled international format distribution translates into enterprise value.
• Banijay Group: Largest European content producer and international format licensor. Represents the global incumbent model that Panenka competes with for international format deals and premium commissions.

Others

• Federation Studios: French international sales and production company. Already a Panenka distribution partner on Het Vaticaan; comparable as an enabling ecosystem participant that monetizes mid-sized European producers' content globally.
• ZDF Enterprises: German international distribution arm of ZDF. Distribution partner on Over Water for Panenka; comparable as a complementary European distributor that channels mid-sized producers' content into German and international markets.

Direct peers

• Woestijnvis: Belgian/Flemish production company producing entertainment and documentary content for VRT and other Flemish broadcasters. Closest direct analogue to Panenka given shared Flemish-market focus, similar genre mix, and comparable scale.
• De Mensen: Belgian production company producing scripted and entertainment programming for Flemish broadcasters. Directly comparable on geography, customer base (VRT and Belgian streamers), and boutique-production model.
• A Team Productions: Belgian production company producing entertainment and reality programming for Flemish broadcasters. Comparable to Panenka in size, Flemish-market focus, and genre breadth within entertainment.
• Submarine: Amsterdam-based independent production company producing documentary, fiction, and feature films with international distribution. Similar independent-producer model, comparable scale, and parallel mix of genre and international format ambitions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/panenkatv
• LinkedInlinkedin.com/company/panenkatv
• Instagraminstagram.com/panenkatv
• Xx.com/panenkatv

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panenka