Hit hard by the COVID-19 pandemic, the film and video distribution industry saw its operating revenues drop nearly 25% in 2021 compared to 2019.
Posted at 12:50 p.m.
This is what emerges from the figures released Tuesday by Statistics Canada. Distributors’ revenues thus fell to $1.4 billion last year, the largest losses were recorded in the distribution of film and video productions, which suffered a decline of $373 million, as well as than pre-recorded video wholesale, which fell $92 million. Superseded by the distribution of content for digital streaming platforms, this category has declined sharply since 2013, representing only 8.5% of total industry sales.
The industry was nevertheless able to generate a profit margin of 3.6%, the result of operating expenses which decreased by $409.8 million from 2019 to 2021. Wages, salaries, commissions and benefits thus decreased in 2021, down $22.3 million from 2019.
It was the distribution of non-Canadian productions that continued to drive the industry, accounting for 82.7% of total distribution revenues in 2021, although revenues from these productions also fell significantly, from 348. $1 million compared to 2019. Of note, the distribution of local productions to Canadian customers fared much better, with revenues remaining virtually unchanged despite the extended closure of theaters due to the pandemic.