The entertainment and media sector in Canada greatly relies on the Canadian film industry, which plays a crucial role in generating income, employment opportunities, and promoting cultural diversity.
Nonetheless, the Canadian film industry will encounter numerous prospects and obstacles in the forthcoming years as it adjusts to evolving consumer tastes, technological advancements, and international competition. In this blog post, we will explore some of the predictions and trends that will shape the future of cinema in Canada.
Rise of Streaming Services and Their Impact on Canadian Filmmakers
One of the main drivers of change in the film industry is the rise of over-the-top (OTT) video streaming services, such as Netflix, Amazon Prime Video, and Disney+. These platforms offer consumers more choice, convenience, and personalization than traditional TV and home video.
PwC’s Global Entertainment and Media Outlook 2019-2023 predicts that OTT video revenue in Canada will experience a compound annual growth rate (CAGR) of 10.7% between 2019 and 2023, resulting in a total revenue of US$2.4 billion. During the same period, traditional revenue streams such as TV and home video are expected to decline at a compound annual growth rate (CAGR) of 2.6%, while cinema revenue growth will be at their expense.
The rise of OTT video services has the potential to harm the Canadian cinema industry as viewers may prefer the convenience of watching movies at home or on mobile devices instead of going to theatres. Despite this, watching movies in cinemas still offers a unique and immersive experience that cannot be easily replicated by other forms of media. According to PwC, cinema revenue in Canada is expected to experience a very modest compound annual growth rate (CAGR) of 0.5%, increasing from US$830 million in 2018 to US$852 million in 2023.
The Canadian cinema industry remains successful in attracting foreign productions, particularly from Hollywood studios, which benefit from tax incentives, favourable exchange rates, and access to skilled talent.
How We Watch and Make Movies in Post-Pandemic Canada
The COVID-19 pandemic has had a profound impact on the film industry in Canada, both in terms of production and consumption. The lockdowns and social distancing measures imposed by the government forced many cinemas to close or operate at reduced capacity, while also disrupting the schedules and budgets of filmmakers and crews. As a result, many films have been delayed, cancelled, or shifted to online platforms for distribution.
However, the post-pandemic era has also created new opportunities and challenges for Canadian cinema. On the one hand, online streaming services have seen a surge in demand and popularity as more people have opted for remote work, stay at home, and seek entertainment options. This has given Canadian filmmakers a wider and more diverse audience for their work, as well as more creative freedom and flexibility in terms of genre, format, and style.
Online platforms have also increased the competition and pressure for Canadian films, as they have to contend with a vast array of content from around the world. On the other hand, online streaming does not provide the same communal and immersive experience as watching a film on a big screen with others.
Diversity and Inclusion in the Canadian Film Industry: Challenges and Opportunities
The Canadian film industry is at a crossroads when it comes to diversity and inclusion. While historically dominated by white, male, and heterosexual perspectives, there is a growing demand and recognition for more diverse and inclusive content, both from audiences and creators. However, achieving true equity and representation is easier said than done.
Fortunately, public institutions like the National Film Board of Canada are taking action by implementing new plans for equity, diversity, and inclusion, and other industry players must follow suit. Netflix and Amazon have also invested in diverse content for their platforms, putting pressure on traditional Canadian film companies to compete.
But the benefits of diversity and inclusion go beyond social and cultural relevance. A report by McKinsey estimates that the industry could see an additional $10 billion in annual revenues by addressing persistent racial inequities.
According to Telefilm Canada, the federal agency that supports Canadian cinema, 41% of its funded projects in 2019-2020 were directed by women, 22% by Indigenous filmmakers, and 18% by visible minorities. These numbers are expected to increase as more initiatives and programs are launched to promote diversity and inclusion in the industry.
Diversity and inclusion are not just moral imperatives, but also strategic advantages for the Canadian film industry. It’s time for the industry to step up and embrace the challenge and opportunity of creating a more equitable and inclusive cinematic landscape.
Future of Film Festivals and Awards in Canada: Online or In-Person?
Film festivals and awards are critical for showcasing emerging talent, fostering collaboration, celebrating diversity, and creating buzz for independent and international films. However, many festivals and awards were cancelled, postponed, or moved online during the pandemic due to the travel restrictions, social distancing measures, and health concerns. This raises the question of what the future of film festivals and awards in Canada will look like. Will they revert to their pre-pandemic format, or will they embrace the digital transformation and offer more online options for audiences and filmmakers?
While online film festivals and awards can reach a more diverse audience, reduce costs and environmental impact, and offer more flexibility and accessibility, they can also miss out on the excitement of the live experience, the networking opportunities for filmmakers and industry professionals, and the technical challenges and piracy issues.
Additionally, online film festivals and awards may not be able to replicate the impact of watching a film on a big screen with a collective audience.
Emerging Genres and Themes in Canadian Cinema: What to Expect in 2023 and Beyond
Canadian cinema has undergone a transformation in recent years, as filmmakers experiment with new genres and themes that challenge conventional boundaries and offer fresh perspectives on contemporary issues. Three emerging trends that are shaping the future of Canadian cinema are Indigenous cinema, sci-fi and horror, and comedy and satire.
Indigenous filmmakers are creating powerful and authentic stories that celebrate their cultures, histories, and identities, while also addressing the impacts of colonialism, racism, and environmental degradation. Recent acclaimed films by Indigenous directors include Monkey Beach, Rustic Oracle, and The Body Remembers When the World Broke Open.
Canadian cinema has a long tradition of producing original and inventive sci-fi and horror films. In the coming years, more Canadian filmmakers are expected to experiment with these genres and explore themes such as artificial intelligence, biotechnology, climate change, and social justice.
Wrapping Up
The future of Canada’s film industry is full of possibilities and unpredictability, as it navigates through shifting consumer trends, technological advancements, and societal evolution. To stay competitive and innovative, the industry must be adaptable and innovative in the ever-changing global landscape. By promoting and embracing diversity and creativity, the industry can also play a crucial role in shaping Canada’s cultural identity and promoting social harmony.