With this increased engagement comes massive changes within the entertainment market. E-books and audiobooks are shaking up the publishing industry, music streaming platforms such as Spotify are challenging the survival of physical music sales, and video on demand services such as Netflix and Hulu are pushing cable providers to quickly adapt to changing consumer preferences. Digital forms of entertainment and media have become the new standard in the Great White North.
Media companies throughout the country are observing this trend towards digital forms of entertainment and altering their business strategies in an attempt to keep up with the changing technological landscape. Music is more digital than ever, most notably through streaming. Digital album sales are decreasing drastically in both physical and digital formats, further indicating that on-demand music streaming is the way of the future.
The TV and video industry adapted the quickest to the initial trend towards digital integration, with digital cable becoming the most prevalent form of television service in the country, a position that it continues to hold today. But that isn’t to say that digital cable providers are safe from the recent changes in consumer preferences. In fact, the increase in demand for on-the-go content has meant that older formats are struggling to keep up. An estimated 520 thousand consumers are expected to cut their cable TV subscriptions in 2020 alone, and a growing percentage of Canadians are reporting that they watch TV exclusively online. As of 2020, 18 million Canadians watched video content on Netflix, and that number is expected to rise in the future.
The games industry has been affected by the trend towards on-the-go access; mobile games account for a larger percentage of total game revenue each year. Canadian video game consumers are increasingly interested in being able to access their content on the move, and they are proving it with their wallets. As of 2021, smartphones were the favorite gaming device of Canadian gamers. Games such as Fidget Trading 3D: Fidget Toys or Run Rich 3D were among the most downloaded games on mobile devices.
Overall, it is clear that things are changing in the Canadian entertainment and media industry. Young generations, especially teenagers, are adopting new technologies rapidly and guiding the future of media and entertainment in the country. Media producers and companies who wish to survive will surely have to acknowledge and adapt to the ever-complex technological demands of this new generation of Canadian consumer.
