Canada Over The Top (OTT) Market Research Report, 2028

Over-the-top (OTT) services are movies and television shows that are delivered directly to digital users without the need for a cable or satellite television subscription. OTT content can be downloaded and viewed directly by the user. Movies and TV services are examples of this type of content, which is delivered directly over the internet to connected devices such as PCs, tablets, smartphones, and consoles. Over-the-top services are currently in their infancy and are widely accepted as a trending technology across the country. The over-the-top market is expected to undergo innovative and advanced transformation, allowing customers to access everything they want in a single location. The Canada rapid development can be attributed to the region's increasing penetration of high-speed internet and smartphone usage. Furthermore, the growing amount of money and investment in the content creation sector is expected to propel the industry during the forecast period. Amazon.com, Inc. and Netflix, Inc., for example, were expected to invest in TV shows and programming, according to telecom advisory services LLC. Peacock, Disney+, Quibi, AppleTV, HBO max, and others are among the newly entered platform providers driving market growth. According to the research report, "Canada Over The Top (OTT) Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 6.36 Billion by the end of 2028. Due to the increase in the number of digital video consumers, media and entertainment dominated the over-the-top market share and is expected to remain dominant during the forecast period. This will increase demand for OTT services in the media and entertainment industry. However, the communication industry is expected to grow at the fastest rate during the forecast period due to an increase in demand for over-the-top services in the telecommunications industry for video calling, voice, and messaging services. During the forecast period, SmartTVs and set-top boxes dominated the market share. Because of the larger screen and easy switching options between cable and OTT platforms. Furthermore, as smartphone penetration increased, smartphones became the second most popular device for streaming OTT platforms. They are also inexpensive, allowing people of all income levels to use smartphones and streaming platforms. During the forecasted period, subscription VOD is expected to manage the market. This is primarily due to an increase in the number of subscribers using over-the-top (OTT) platforms. Furthermore, due to the high demand for advertising videos for product and service promotion, advertisement-based VOD is steadily increasing. The market is divided into personal and commercial user types. The market is expected to be driven by the personal user segment. The growing use of smartphones and tablets, as well as easily accessible internet, raises the market's perception of OTT services for personal entertainment and knowledge. In Canada, more than 35% of people watch music videos. Around 30% of people watch a comedy, meme, or viral video. Around 20% of people watch video livestreams. More than 20% of people watch educational videos. More than 15% of people watch sports highlights or clips. Around 20% of people watch Gaming Videos. More than a quarter of all people watch Influencer videos and vlogs. By age group (16–64), the average amount of time that Canadian users spend each day includes more than 6 hours on the internet, more than 3 hours on television, around 2 hours for social media, and more than 1 hour listening to music streaming services. In Canada OTT market, some of the major reason for the higher utilization of internet by the age group of 16-64 includes finding information, researching how to do things, finding new ideas and inspiration, staying in touch with friends and family, researching brands, education and study, watching videos, TV shows and movies, listening to music, researching health issues and products, researching places, travel, business networking and many more. In January 2022, there were approximately 36.89 million internet users in Canada. At the start of 2022, Canada's internet penetration rate was around 96.5 percent of the total population. In Canada, approximately 1.34 million people did not use the internet at the start of 2022, representing approximately 3.5 percent of the population. In January 2022, there were approximately 33.30 million social media users in Canada. According to Meta's advertising resources, Facebook had approximately 20.90 million users in Canada in early 2022. According to Google's advertising resources, YouTube had approximately 33.30 million users in Canada in early 2022. According to Meta's advertising tools, Instagram had approximately 17.40 million users in Canada in early 2022. According to ByteDance's advertising resources, TikTok had approximately 11.19 million users aged 18 and up in Canada in early 2022. According to Meta's advertising resources, ads on Facebook Messenger reached approximately 655.7 thousand users in Canada in early 2022. According to LinkedIn's advertising resources, the company had approximately 19.00 million "members" in Canada in early 2022. According to Snap's advertising resources, Snapchat had approximately 10.30 million users in Canada in early 2022. According to Twitter's advertising resources, Twitter had approximately 7.90 million users in Canada in early 2022. OTT platforms provide and distribute video, media, and broadcasting content over the internet via streaming services. Setplex, 5centsCDN, Ventuno, Flicknexs, Vimeo Livestream, Vplayed, Muvi, OTT Stream, SkyMedia, BridTV, Streaming Media Hosting, and many more are currently the best OTT platforms in Canada. The availability of new and advanced smartphone features is expected to propel the Canada OTT content market growth during the forecast period. Smartphone manufacturers are introducing novel and advanced features in smartphones to meet rising consumer demand for a personalised experience. An integrated camera, 4G LTE connectivity, powerful microprocessors, integrated sensors, and a long battery life are among the features. Furthermore, changing modern consumers' social lifestyles in which they consume a large volume of videos, audio files, and data are expected to propel the Canada OTT content market growth over the forecast period. To access the content, Over the Top service providers offer various subscription packages and deals. However, in order to gain access to multiple platforms, the user must pay a separate subscription fee for each platform service. This raises the platform's overall spending. With the rapid launch of new Over the Top platforms, users are rapidly shifting between platforms to view unique offers. Subscription cancellations are also being caused by higher prices and low-quality content. During the COVID -19 pandemic, film studios and content creators have been hit hard by cinema complex/hall closures. National producers are increasingly turning to OTT to deal with the situation. The prolonged lockdowns and the current state of the economy have thrown open the doors to the world of entertainment via OTT. People are wary of going to theatres to watch entertainment content, so OTT media platforms have grown in popularity. Netflix, for example, has stepped in to fill the void. To reach viewers, entertainment content producers are turning to OTT service providers. With so many OTT services available to users, it is difficult to attract and retain new subscribers. Customers typically receive free or discounted introductory offers. Subscribers can sign up for a free trial and then cancel when it expires; in the meantime, a lack of new content drives away subscribers, and the complex user interface can cause customers to unsubscribe from the service. To avoid this, many service providers priorities high-quality content and a pleasant user experience. Considered in this report • Geography: Canada • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Canada Over The Top (OTT) market with its value and forecast along with its segments • Region-wise Over The Top (OTT) market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • AVOD (Advertising-based Video On Demand) • SVOD (Subscription Video on Demand) • TVOD (Transactional Video on Demand) • Others By Device Type: • Smartphones and Tablets • Desktops and Laptops • Smart TVs & Set-Top Box • Gaming Consoles & Streaming Devices By Content Type: • Video Streaming • Game Streaming • Audio Streaming • Communication By Service Verticals: • Media and Entertainment • Education and Learning • Gaming • Service Utilities By User Type: • Personal • Commercial By Component Type: • Solution • Services The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Over The Top (OTT) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.