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Canadians spent an estimated $2.05 billion on OTT providers in 2020: report

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Canadians spent an estimated $2.05 billion on over-the-top (OTT) providers like Netflix and Disney+ in 2020, in response to a brand new report from Convergence Research.

An over-the-top streaming service is a platform supplied on to customers over the web. The report analyzed over 50 OTT providers from over 35 suppliers.

The report estimates that Canadian OTT entry income grew by 35 p.c in 2020. Convergence Research estimates that entry income will develop by 32 p.c development to $2.71 billion in 2021 and to $3.96 billion in 2023.

“We forecast the almost doubling of annual Canadian OTT access revenue over the period will continue to mostly benefit non-Canadian players,” the report states.

The agency states that Canada is more and more being impacted by the OTT struggle being waged by international programmers and unbiased OTT suppliers.

“Although for global programmers Canada is a direct to consumer opportunity as well as an opportunity to sell to Amazon, Apple, DAZN, Netflix, Canadian programmers and linear/OTT providers continue to remain attractive,” the agency outlines.

“DAZN’s procurement of soccer, Disney+, Discovery’s GolfTV, NBCU’s hayu impinge on the Canadian TV/OTT model, on the other hand WM’s HBO, CBS (3 Star Treks)/Showtime, Lionsgate’s Starz have made multiplatform deals with Bell, as has NBCU’s Peacock with Corus.”

Unsurprisingly, the report discovered that cord-cutting is gaining popularity. For occasion, the agency estimates that there was a decline of 389,000 Canadian TV subscribers in 2020 in comparison with a decline of 278,000 in 2019. The agency forecasts a decline of 427,000 in 2021.

The report outlines that Canadian TV subscribers and entry income are at the moment not seeing as steep a charge of decline because the U.S. however this might change if new or expanded OTT providers are supplied in Canada.

Further, it’s estimated that 35 p.c of Canadian households didn’t have a TV subscription with a cable, satellite tv for pc or telco TV entry supplier in 2020. Convergence Research estimates that this quantity will rise to 45 p.c in 2023.

Convergence Research compiles its annual stories by a number of sources together with firm interviews, and annual and quarterly stories.

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Written by Gideon

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