The entertainment and media sectors in Canada are showing immense growth every day. Investors term Canada the most innovative, talented, and cost-effective ecosystem in the world. Its portfolio includes the best selling videos and Hollywood blockbusters. Canada receives respect because it is a leader in video games, animations, and visual effects. The major sectors are visual effects and animation, video games, film, and television.
Films
Award-nominated films like Maya and Houdini rely on studios in Canada for visual effects and animations. They rank Canada as the third most filmed country in the world.
Video Games
Video games like FIFA 19, Assassins Creed Odyssey, and Tomb Raider’s Shadow are some Canadian video game production products. These are the most popular and bestselling video games in the world. The production of video games has contributed approximately $4.5 Billion to the Canadian GDP. It means there was a creation of 48,000 jobs for game developers in the country.
Revenue
Canada houses large studio companies that engage in television shows and film production. They use the Canadian landscape from time to time as a backdrop for popular film productions.
Examples of these are The Revenant and the Titanic. The film production sector contributes around $12.8 Billion in annual revenue. It creates approximately 181,000 jobs every year.
Investments
The entertainment sector is growing because of the investments that exist. The availability of quality digital media schools in Canada enhances this industry. They train and impact skills to a workforce that serves the animation, design, VFX, and video game development. Some of these schools include; the Vancouver film school, Sheridan College in Toronto, the school of Arts Animation and Design in Montreal.
Incentives
Digital media industries and TV in Canada receive financial support from the Canada Media Fund. The sector benefits from tax exemptions and deduction in R &D expenditures through a program that is under the scientific research and experimental development. Examples of these include operations with third-party products, performance, and improvements in the systems, designing algorithms, simulations, and rate improvement.
Canadian provinces offer an incentive to support this industry. British Columbia provides interactive digital media tax credit and film and television tax credit. They are eligible to be registered corporations that are in the business of producing interactive media, film, and TV products.
Alberta gives IDMTC and grants for post-production, digital animations, and visual effects. It helps to cover expenses in labor for organizations in Alberta. Eligibility includes the ability to demonstrate that the business is incorporated or registered and regularly provide third party services.
Prince Edward Island offers the innovation and development labor rebate. It is refundable funding for developing new products and processes that they can export to other areas. Eligible sectors include information and communications technology, biosciences, renewable energy, among others.
Conclusion
It is a center of attraction for investors who are looking for entertainment and media businesses. The entertainment sector receives tremendous support, hence producing the best quality in the entertainment products world.
