[Report] The video streaming industry's revenue increased by 266% in 5 years in Canada
The holiday season is always a time when families traditionally watch Christmas movies or series. In this context, what are the big numbers in the video streaming industry in Canada? We analyze here the big trends affecting this growing industry.
Good to know
- In 2022, 73.7% of Canadians are regular video streaming viewers - e.g. 28.4 million people all across the country
- With 25% of the market shares, Netflix is the leading streaming platform in Canada, in front of Amazon Prime Video (20%) and Disney + (19%)
- The video streaming industry's revenue increased by 266% in Canada between 2017 and 2022, from $0.7 billion to $2.53 billion
- This revenue should almost double by 2027, with an expected growth up to $5.21 billion by that date.
Netflix, Amazon and Disney own 64% of the streaming platform market shares in Canada
Various streaming players have already been present in Canada for a few years now, but what are the most important platforms in the country? As of the second quarter of 2022, Netflix holds the largest market share (25%), followed closely by Prime Video (20%) and Disney+ (19%). Together, they represent 64% of the streaming market in Canada.
Source : JustWatch (Q2 2022)
In 2022, 73.7% of Canadians are regular video streaming viewers
By regular video streaming users, we include all the people streaming or downloading digital video at least once every month of the year. In 2022, 28.4 million of Canadians are classified as regular video streaming viewers in 2022, which represent almost 3 Canadians out of 4 (73.7%). The total number of regular video streaming viewers should grow by 6% by 2025, with a new 1.7 million viewers expected by this date (which would represent a total of 30.1 million viewers).
Source : Statista
The video streaming industry's revenue will double from now to 2027 in Canada
The video streaming industry has literally boomed in the past few years worldwide, and particularly in Canada. As shows the below graph:
- The video streaming industry's revenue increased by 266% between 2017 and 2022, from $0.7 to 2.53$ in 2022
- This revenue should almost double by 2027, with an expected growth up to $5.21 billion by that date.
Source: Statista
Our methodology
In addition to its expert editorial line around insurance and financial products, HelloSafe explores broader topics relating to global consumption in Canada and around the world. The aim is to decipher certain complex subjects for consumers and to provide everyone with the latest information. It is within this framework that HelloSafe regularly carries out studies on trends relating to current personal finance in Canada.
The report is based on a wide array of expert sources on the topic, including the University of Laval, JustWatch, Statista and data provided by our business partners.
About HelloSafe Canada
HelloSafe is Canada's leading platform for comparing insurance and personal financial products. HelloSafe provides Canadians with hundreds of free, anonymous and quick comparison tools and calculators built on powerful proprietary technology. Up-to-date content from experts accompanies all our comparison tools. Our platform empowers you to make the best decisions with your money and find the right products at the right price.
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Nolwenn Abolivier
Press relations and communication officer