The streaming industry more flourishing than ever
Revenues from streaming platforms have grown significantly in recent years.
While many are grieving that they can no longer share their Netflix password and are considering unsubscribing, streaming platforms have never done so well in Quebec and Canada according to a recent report.
It’s the financial investment advice company HelloSafe which took an interest in the question, first looking at the income generated by the various video streaming platforms. She has seen a very significant upward trend over the past five years in Canada. Between 2017 and 2022, these revenues increased from $0.7 billion to $2.53 billion, which represents an increase of 266%.
In 2021 more than half of Quebecers (57%) were already subscribed to Netflix, which dominates the market, followed by Prime Video (29%), Disney+ (18%) and Club Illico (16%). That year, video-on-demand platforms overtook pay-TV channels in terms of the number of subscribers in Quebec, according to a study by Université Laval on digital consumption habits in Quebec. province.
“This is a complete reversal of the trend, because 4 years earlier, in 2018, 79% of Quebecers were still subscribed to pay TV, compared to only 51% to streaming platforms “, underlines HelloSafe.
Despite the outrage over Netflix’s new account sharing policy, the streaming industry doesn’t seem to have much to worry about. If the trend continues, “[revenues from said platforms] are expected to nearly double by 2027, with an estimated revenue of $5.21 billion [in Canada] by that date,” the report reads. .
