Revenue falls in the Canadian film, television and video production industry in 2023 amid two labour disruptions
The film, television and video production industry generated $10.4 billion in operating revenue in 2023, down 9.5% from 2021. This was the first biennial decline for the industry since comparable data became available in 2013.
The decrease in 2023 was partly because of labour disruptions by the Writers Guild of America and Screen Actors Guild–American Federation of Television and Radio Artists. Despite these labour disruptions, operating revenue in 2023 remained higher than levels seen before the COVID-19 pandemic, increasing 15.2% from 2019, as sustained demand for content continued to drive growth.
Operating expenses also declined in 2023, but at a slower pace than operating revenue, falling 3.9% from 2021 to $10.0 billion in 2023 as operators struggled to cut costs following disruptions in industry activities. Consequently, the operating profit margin for the industry decreased from 9.0% in 2021 to 3.4% in 2023.
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