TORONTO, December 19, 2024 —  The Canadian Media Producers Association (CMPA) today released Profile 2024: An Economic Report on the Screen-based Media Production Industry in Canada, with the following topline findings: between April 1, 2023, and March 31, 2024, the media production sector in Canada created 179,130 jobs, and generated $9.58 billion in production volume. The sector continues to generate significant economic benefits for the Canadian economy, contributing $11.04 billion to Canada’s GDP in 2023/24. However, total production volume declined by 18.5 per cent compared to last year, contrary to the level of growth seen in prior years.

A summary of the key findings, along with the full report, can be found on the CMPA’s website.

The numbers in Profile 2024 reflect a significant downturn in economic activity across the domestic and foreign production segments in Canada. Declines were driven mainly by two lengthy US labour strikes and a slowdown in commissioning of Canadian content, most notably in English-language television, as Canadian broadcasters caught up on dollars underspent during the pandemic period.

“The numbers released in today’s report starkly confirm the significant economic slowdown that Canadian producers and creators have faced over the past 18 months,” said CMPA President and CEO Reynolds Mastin. “While this downturn affects the entire industry, small production companies and those working in the kids and animation sector have been hit particularly hard.”

The numbers outlined in Profile 2024, which show a decrease in Canadian content investments from Canadian broadcasters, come as the Canadian Radio-television Communications Commission (CRTC) continues to work through its multi-phase review of the regulatory framework for the Canadian broadcasting system. In June, the Commission released a decision outlining the base contribution requirements for foreign streamers to support Canadian programming. This decision was welcomed by the CMPA, however, the positive impacts are not expected for some time, given contributions are not required until August 2025.

“We are still one to two years away from seeing any new investments in Canadian content through the Online Streaming Act, but we remain hopeful that the industry will ramp up again. Recovery is crucial for the tens of thousands of Canadians whose livelihoods depend on the success of this industry,” added Mastin.

Historically, the annual Profile report was released in the spring, which meant that the numbers in the report were not always reflective of the current state of the industry. Today’s accelerated release of Profile aims to more accurately reflect current industry conditions. In an effort to better align with real-time production activity, future editions of Profile will be released each fall. Accordingly, Profile 2025, which will cover April 1, 2024 – March 31, 2025, will be released in the fall of 2025.

This latest edition of the CMPA’s annual economic report is compiled by Nordicity, and developed in collaboration with the Department of Canadian Heritage, the Canada Media Fund (CMF), Telefilm Canada and the Association québécoise de la production médiatique (AQPM).

– 30 –

ABOUT THE CMPA
The Canadian Media Producers Association is the national advocacy organization for independent producers, representing hundreds of companies engaged in the development, production, and distribution of English-language content made for television, cinema, and digital media channels. For more than 75 years, the CMPA has worked to promote the continued success of the Canadian production sector and to ensure a bright future for the diverse content made by our members for both domestic and international audiences. cmpa.ca

For more information:

CMPA
Gamiela Fereg
Senior Manager, Media Relations & Communications, CMPA
gamiela.fereg@cmpa.ca