Schematic knowledge about people helps us to understand their behaviour in novel situations. The ventromedial prefrontal cortex (vmPFC) and hippocampus play important, yet poorly understood, roles in schema-based processing. Here, we manipulated schematic knowledge by familiarizing participants over the course of a week to the two lead characters of one of two TV shows. Then during MRI scanning, they viewed pictures of all four characters and performed a recognition memory test afterwards. Memory was also tested for short videos. Schematic knowledge boosted performance on both memory tests. Whole-brain analyses revealed knowledge related activation increases in the vmPFC and retrosplenial cortex while a similar effect was identified in a hippocampal region-of-interest. Representational similarity analyses identified person-specific patterns of activity in the vmPFC but not hippocampus, but no effect of familiarization. Our findings suggest complementary roles for the vmPFC and hippocampus in processing schematic knowledge that was acquired in a naturalistic manner.