The value added by the audiovisual and broadcasting sector in Canada experienced consistent growth from 2013 to 2023, reaching 9.99 billion Canadian dollars in 2023. This indicates a stable yet moderate increase, although the market saw some fluctuations over the years. Notable deviations include a 12.05% decline in 2015 and significant growth variances in subsequent years. Over the last two years, the sector displayed a slight growth trend, with year-on-year variations of 1.51% in 2022 and 1.46% in 2023.
Looking ahead, forecasts for the period from 2024 to 2028 suggest a continued positive outlook for the sector, with an expected compound annual growth rate (CAGR) of 1.04%. By 2028, the sector is projected to be valued at 10.67 billion Canadian dollars, reflecting a forecasted five-year growth rate of 5.3%.
Future trends to watch for include advancements in digital broadcasting technologies, the integration of AI in content creation, and increasing consumer demand for high-quality streaming services. Additionally, regulatory changes and government support for the media industry could also play a crucial role in shaping the sector’s growth trajectory.
