Digital video is one of the fastest-growing media formats for consumers and digital marketers. The pandemic resulted in a surge in digital video consumption across all formats, including subscription over-the-top (OTT) services like Netflix. This has caused an expansion of the viewing menu in Canada, from both domestic players and from abroad.
How much will digital video viewership increase this year?
The number of digital video viewers in Canada will reach 27.7 million this year, a full million more than we expected in our previous forecast. Digital video consumption has grown dramatically since the pandemic began, and services are reporting record growth.
How does time spent with digital video compare with TV?
TV still commands the highest average daily time spent for consuming long-form content. However, video time is eating into TV hours and now accounts for more than one-third of time spent with long-form viewing, which includes TV and digital video.
Has video ad spending followed the growth in viewership?
Digital video ad spending is growing in kind with viewership. Last year, digital video ad spending surpassed TV ad spending for the first time. Double-digit growth momentum will continue this year and through 2023.
How well are domestic video players competing for viewership?
Netflix, Amazon Prime Video, Disney+, and Apple TV+ have gained committed audiences in Canada. Defending the turf, but with substantially smaller viewer numbers, are domestic services like Bell Media’s Crave, Videotron’s Club Illico in Quebec, and CBC Gem, the OTT service from the national broadcaster.
WHAT’S IN THIS REPORT? This report covers our latest forecasts for digital video viewers, pay TV households, cord-cutters, digital video ad spending, and time spent with video. It covers specific trends in the Canadian market and recommendations for marketers looking to tap into the growing audience.
KEY STAT: There will be 27.7 million digital viewers in Canada in 2021, a level we previously did not expect to hit until 2024.
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