$3.1 billion: the video streaming industry's revenue in Canada in 2023, e.g +24% in one year

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 were regular video streaming viewers - e.g. 28.4 million people all across the country
  • With 24% of the market shares, Netflix remains the leading streaming platform in Canada, ahead of Amazon Prime Video (21%) and Disney + (19%)
  • The video streaming industry's revenue increased by 244% in Canada between 2018 and 2023, from $0.9 billion to $3.1 billion
  • This revenue should almost double by 2027, with an expected growth up to $5.21 billion by that date.

Paramount and Crave are the big 2023 winners among Canadian VOD players in 2023

The streaming industry in Canada witnessed subtle shifts in market shares from 2022 to 2023, as depicted by the provided data:

These fluctuations in market shares indicate a dynamic and competitive streaming landscape in Canada, with platforms strategically vying for audience attention and loyalty.

Source : JustWatch (Q2 2023)

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 would almost 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:

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

Nolwenn Abolivier

Press relations and communication officer