Canada is one of the world’s leaders when it comes to digital entertainment. The Great White North has been able to produce various forms of media that the world has been able to consume while, at the same time, its population has been prevalent adopters and users of those mediums that have been made available.
The country has arguably been one of the slower ones in comparison to other nations regarding its progression towards digitalization. Still, there has been an increase and growth among its people. Technology has started to become more integrated within communities around its provinces, which has led to the boom that has been experienced.
Companies within this sphere have started to notice and take note, as they have had to try and predict consumer trends and behaviors to remain competitive in the market. So what do the data and statistics indicate regarding the trends and behaviors prevalent in Canada’s digital entertainment landscape?
Music Streaming is the way to go
Streaming sites such as Spotify have been the norm for much of the world’s population, and the Canadian audience appears to be embracing this method more so nowadays when they look to listen to their favorite music tracks.
According to the data, the music streaming revenue to have been recorded was US$487.8 million, and it is forecasted to continue to climb in the years to come. This could be because physical music sales of CDs and vinyl have started to decline, with most likely to enjoy the convenience and accessibility a subscription to Spotify or other platforms can offer. The subscriptions available today will typically comprise a small cost that allows users to access the music they want, rather than have to pay the traditional album price and then only be able to listen to the tracks that are on it.
Game Industry experiencing new changes across Canada
Canadians are known to enjoy a gaming experience, with the country being a hub for numerous developers within the industry. There are almost 1,000 video game companies that are based in the Great White North across various niches. As is the case in most other countries, the smartphone has also become the go-to device for many Canadians, as they can access the content they want to enjoy whenever they can. It is unsurprising as figures suggest that there are 11.3 million gamers using this device, while online gaming accounts for US$0.32 billion in revenues.
The industry is only likely to enjoy a bigger growth in terms of the number of players in the future, too, as new methods of gaming are regularly being made available. The iGaming industry is continually growing in the region as well, with some provinces introducing favourable legislation that allows these activities to be conducted.
Ontario has been one prime example of this, as the province introduced legal online wagering. Players are able to enjoy various casino games, and it would not be a surprise if we were to see even more regions introduce the ability to play bingo online in Canada as freely as they can in the most populous part of the Great White North.
TV streaming platforms continue to perform across Canada
When thinking of digital entertainment, it is typical to think of TV streaming platforms, as this has become the norm for so many. Gone are the days in which most would use traditional TV and cable subscriptions to access their favorite shows, especially as on-demand viewing has increased and been demanded due to the way an individual’s daily life is. In fact, this is reflected in the estimates that have been made.
According to the report, around 520,000 households in Canada have either cut or have never had subscriptions to cable TV, while 22.36 million are users of streaming video platforms. It is estimated that there are 18 million that are using Netflix alone in the country as of 2020. This helps to account for the US$2.9 billion that is being generated in revenues. This number is only likely to continue to rise, as many are reporting that they watch TV almost exclusively in this way.
Canada’s success in the digital entertainment sphere
It is clear that there has been a change in the tide regarding digital entertainment consumption across Canada, with huge success being experienced. With younger generations growing up with digitalized entertainment as the norm, it is only likely to continue on its successful path.
If providers of entertainment mediums want to be a part of the journey, they need to embrace the change if they have not already, otherwise they will be left behind by the Canadian consumer.