Canada vs. the USA, Which Country is Best for the Online Entertainment Industry
By Space Coast Daily // August 16, 2022
Canada ranks top countries with the leading online entertainment industry compared to the USA. Canada is one of the growing digital economies, and the country tops the list in the global technology benchmark. Notably, film productions have had significant success as far as the entertainment industry goes. In this article, we will review the Canadian Entertainment industry.
Film Production
Canada has been the top country in film production thanks to the flexible measures put in place by the related ministries and shareholders. Compared to Hollywood, Canada’s film production costs are lower, making it convenient for producers to release new serials and movies. Moreover, this has led to the growth of Film productions. Globally, Canada comes in third in terms of the most filmed country, and it is estimated that the industry employs over 180,000 individuals.
Home Entertainment
Thanks to the growing technology, Canada has achieved over 25 million active mobile internets. The country also enjoys huge fans of Video On Demand streaming technologies. This has played a crucial role in the expansion of VOD, recording a market share of over 70%. Hence Video On Demand Streaming has a higher impact than the renowned USA video streaming service, Netflix.
Gambling and Online Casino
Gambling has always been a popular form of entertainment option for both Canadians and Americans. However, recent statistics show a huge increase and growth of online casinos in Canada.
Notably, the Canadian online gambling industry generates billions every year, a huge boost to the country’s economy. With online casinos in Canada offering more bonuses and attractive promotional offers, it is easy for residents to play their favorite games for free and for real money.
There are plans for the Ontario Administration to open a platform for online gambling competition. This Canadian province will be the first to support a regulated gambling market if all goes well.
Video Games and Esports
Video Games and eSports are also other trending sections of the online entertainment industry. This industry contributes around 19 million in annual revenue and is expected to rise to up to $3 billion by 2023.
With a 5.5% compound annual growth rate, Canadian’s Video Games Markets is approximately half the size of the markets in the UK and Germany. Conversely, the eSports revenue in Canada has also significantly increased, recording over $20 million in the past few years. While American eSports is superior to Canadian, the country has seen steady growth in the industry since 2017.
Music
The music industry in Canada was largely affected during the pandemic due to the live event cancellations. However, this sector is still impactful in the entertainment industry, having contributed over $698 million in 2018. Notably, the Canadian music industry is expected to increase by up to $930 by 2023. In 2020, Universal Music (UMC) agreed to a partnership with the eSports Outfit Luminosity Canadian Gaming Company. This is another move that is expected to boost the music and gaming industry in the country.
