The evolving capabilities of new technology trends, shifting revenue models, changing consumer behaviours, and growing demand for content are disrupting the media and entertainment industry in Canada. This is especially evident with recent regulatory changes, rising production costs, and reduced commissioning of local Canadian content.
It’s changing the way that content is being consumed and how companies are monetizing content. It’s also led to an explosion of digital channels and new revenue models, making the industry ripe for consolidation. The acquisitions have already begun, with a larger number of U.S. entities acquiring smaller Canadian media companies.
The media industry in Canada has also been impacted by the emergence of generative AI. While companies may be embracing AI for operational efficiencies, they also need to find the balance between people and technology, particularly in the creative fields. As viewers adapt to media trends, marketing spend is also moving away from traditional and into digital. While the evolving media industry is pressuring companies to pivot or restructure, it’s also providing an opportunity to innovate, find new customers, and develop alternative recurring revenue streams such as investing in AI, assessing regulatory changes, and adopting immersive technology to name a few.
