Canadians will still pay for cable subscriptions, but they want choice and a personalized experience
A recently released PriceWaterhouseCoopers (PwC) report shows that as Canada’s entertainment and media industry adjusts to changing consumer habits, trends like second-screen viewing and cord cutting are impacting business models and how the industry makes content available.
The new report focuses on Canadian insights on PwC’s ongoing “Global Entertainment & Media Outlook: 2013-2017″ report.
Canadians are looking for “choice and an experience made just for them” when it comes to content, said Lisa Coulman, partner, audit and assurance group at PwC, in a release that. However, PwC found that many Canadians want to remain connected to traditional media providers to get that experience.
Ontario Media Development Corporation president and CEO Karen Thorne-Stone commented in the report: “I don’t think the reality [of the impact of OTT providers on traditional distributors] is nearly as bold as the threat.”
Canadians may not be canceling their cable subscriptions yet since people continue to pay for such services, but the report shows they are complementing their cable subscriptions with on-demand and PVR viewing.
PwC states in the report that its team expects the Canadian entertainment and media sector will “continue to thrive – with a projected sector wide compound annual growth rate of 5% between 2013 and 2017.”
Survey by: PwC
Methodology: 20 Canadian senior industry executives, from the groups including the Canada Media Fund, CBC, Torstar and Blue Ant Media, were polled for their “insights on the opportunities and challenges facing the entertainment and media industry.”
Key insights:
Total consumer magazine advertising spend in Canada, including digital and print (in Canadian millions):
2013 – 999
2017 – 998
Total internet advertising, wired and mobile
2013 – 3,751
2017 – 6,353
Total newspaper publishing advertising
2013 – 1,958
2017 – 1,687
Out-of-home advertising
2013 – 621
2017 – 778
Total radio advertising
2013 – 1,717
2017 – 1,907
Total television advertising
2013 – 3,735
2017 – 4,096
The report also referenced video content consumption data from PwC U.S. Consumer Intelligence Series in 2013:
– When asked which pay TV packages they have now, 70% of consumers said cable; 41% said Netflix; 26% said satellite; 16% said iTunes and 2% said other.
