The Canadian entertainment and gaming industry has seen significant growth over the past few years. According to the Entertainment Software Association of Canada, the gaming industry alone has seen a compound annual growth rate of approximately 9.6% between 2015 and 2019. This growth is driven by technological advancements and an increased demand for digital entertainment content, particularly during the COVID-19 pandemic.
The film industry in Canada is also experiencing a positive trend. Despite the difficulties faced due to the pandemic, the industry is expected to recover and maintain a steady growth rate. The integration of new technologies such as virtual reality in movie production is a major contributing factor to this growth. The Canadian Media Producers Association reports that the film and television industry contributed over $12 billion to Canada's GDP in 2019.
In addition to this, the Canadian government's commitment to supporting these industries through various funding opportunities also encourages growth and innovation. For instance, the Canada Media Fund, which supports the creation of Canadian content and software applications, has contributed significantly to the growth of these industries. With such support, the future of the entertainment, games, and film industries in Canada looks promising.
- Augmented Reality: A growing demand for virtual and augmented reality experiences. Canadian companies could leverage this demand to create innovative products and services. The country's strong technology sector could also be a valuable asset in this regard.
- Story Telling: There is a growing interest in diverse and inclusive storytelling, and Canadian filmmakers have the opportunity to lead in this area. Additionally, the use of new technologies, such as virtual reality and 3D printing, could revolutionize the way films are produced and experienced.
- Funding Opportunities: the Canadian government offers a range of incentives and funding opportunities for innovation in these industries, further enhancing the potential for business success in Canada.