OTTAWA – Canadian producers stand to reap huge gains from the “videofication” of the Internet – the ever-increasing time spent by consumers watching video content on-line – which is generating increased demand for professionally produced original content specifically made for an online audience. However, that content could also challenge the business models of the traditional television industry, according to a new report by the Canadian Media Production Association (CMPA).
The report, Content Everywhere: Mapping the Digital Future for the Canadian Production Industry, also examines how major U.S.-based content aggregators like YouTube, Yahoo and Hulu are making significant investments in original, professionally-produced programming as they look to distinguish their brands, increase audience engagement, and attract greater advertising dollars to their platforms.
The lack of an equivalent on-line aggregator for Canadian content puts the Canadian production industry at risk of not keeping pace with developments in the American digital marketplace, the report continues. With Canadian broadcasters largely focussed on repurposing television content for on-line platforms, there is a need to retool existing financing mechanisms so that they can more effectively be used to support digital production.
“We are witnessing a sea change in the digital content marketplace, at least in the United States,” said John Barrack, the CMPA’s chief operating officer and chief legal officer, in the report’s news release. “Barely a week goes by now without an announcement by one of the major American on-line players about new channels or original series that they’re launching on their platforms. The question our industry now needs to answer is: how do we tap into this demand for original digital content that speaks to both Canadian and international audiences?”
Authored by Catherine Tait of Duopoly Inc., the report received funding support from the Canada Media Fund (CMF) and the Ontario Media Development Corporation (OMDC).
