The Media and Entertainment Gross Value Added in Canada stood at 22.47 Billion Canadian Dollars in 2023. The industry showed a positive trend with a 1.66% year-on-year increase and a 1.62% CAGR over the last five years from 2018 to 2023. The forecast for the next five years suggests a steady growth trajectory with an anticipated 1.21% CAGR, leading to a total growth rate of 6.22% by 2028. Though the sector faced a notable decline of 5.91% in 2020 due to unprecedented pandemic impacts, it has demonstrated resilience and a moderate recovery trend.
Future trends to watch for in this sector include:
- Increasing integration of digital platforms and streaming services.
- Growing investments in Canadian content production.
- Technological advancements and their adoption within the sector, such as AI and VR.
- Heightened focus on personalization and consumer experience.
