Key regions: United Kingdom, Germany, Asia, South Korea, Japan
The OTT Video market in Canada has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of high-speed internet.
Customer preferences: Customers in Canada are increasingly turning to OTT Video services as their primary source of entertainment. This shift in preference can be attributed to several factors. Firstly, OTT Video platforms offer a wide range of content, including movies, TV shows, and original programming, providing customers with a greater variety of options compared to traditional cable or satellite TV. Additionally, the convenience and flexibility of OTT Video services, which allow users to stream content on-demand and across multiple devices, are highly appealing to Canadian consumers who value convenience and flexibility in their entertainment choices.
Trends in the market: One of the key trends in the OTT Video market in Canada is the rise of subscription-based streaming services. Platforms such as Netflix, Amazon Prime Video, and Disney+ have gained significant popularity among Canadian consumers, offering a vast library of content at a relatively affordable monthly fee. These services have disrupted the traditional TV market, leading to a decline in cable and satellite subscriptions. As a result, traditional TV providers are now offering their own OTT Video services to compete with the streaming giants. Another trend in the market is the increasing production of original Canadian content by OTT Video platforms. This trend has been driven by the Canadian government's support for the local film and television industry, as well as the growing demand for Canadian content both domestically and internationally. The production of original Canadian content not only provides a platform for local talent but also attracts subscribers who are interested in unique and culturally relevant programming.
Local special circumstances: The OTT Video market in Canada is influenced by several unique factors. Firstly, the bilingual nature of the country presents both challenges and opportunities for OTT Video providers. While English-language content dominates the market, there is a growing demand for French-language content in Quebec and other French-speaking regions. OTT Video platforms that can cater to this demand have a competitive advantage in these markets. Additionally, the Canadian Radio-television and Telecommunications Commission (CRTC) plays a significant role in regulating the OTT Video market in Canada. The CRTC has implemented policies to promote the production and distribution of Canadian content, including requirements for OTT Video platforms to invest in Canadian programming. These regulations create a favorable environment for the growth of the local film and television industry.
Underlying macroeconomic factors: The development of the OTT Video market in Canada is supported by several underlying macroeconomic factors. Firstly, the widespread availability of high-speed internet across the country has made it easier for Canadians to access OTT Video services. The increasing affordability and reliability of internet connections have contributed to the growth of the market. Furthermore, the relatively high disposable income of Canadians allows them to invest in OTT Video subscriptions and other digital entertainment services. The stable and prosperous economy of Canada provides a favorable environment for the growth of the OTT Video market. In conclusion, the OTT Video market in Canada is experiencing significant growth due to changing customer preferences, the rise of subscription-based streaming services, and the increasing production of original Canadian content. The bilingual nature of the country and the regulatory environment also play important roles in shaping the market. The widespread availability of high-speed internet and the relatively high disposable income of Canadians further support the development of the OTT Video market in Canada.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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