Film, television and video post-production, 2023

Released: 2024-10-09

Film, television and video post-production industry boomed in 2023

The film, television and video post-production industry generated $2.8 billion in operating revenue in 2023, up by just over one-third (+34.4%) from 2021 as increasing demand for content continued to bolster sales for the industry.

Robust sales growth stemmed largely from visual effects and animation services, which rose $714.0 million (+60.9%) from 2021, representing 89.0% of the increase in total industry sales in 2023. Quebec, which has been the largest contributor to visual effects and animation services since 2019, comprised 56.0% of the national total ($1.1 billion) in 2023.

Operating expenses totalled $2.6 billion in 2023, up 37.7% compared with 2021. With industry expenditures outpacing revenue growth, the operating profit margin dropped from 10.2% in 2021 to 8.0% in 2023.

Salaries, wages and benefits (52.9%) represented the largest share of operating expenses in 2023, increasing 35.8% to $1.3 billion. Subcontracts represented 11.1% of total operating expenses, up from 8.5% in 2021.

Quebec (52.1%) accounted for the largest share of national operating revenue among the provinces in 2023. Quebec also saw the largest increase from 2021 in dollar terms, up $380.2 million to $1.4 billion in 2023. Ontario had the second-largest increase, rising $167.7 million to $566.2 million, followed by British Columbia, up $159.5 million to $748.7 million.

Delayed effects of strikes could result in a turbulent 2024 

The industry experienced two notable labour disputes in 2023, leaving much uncertainty within the industry for 2024. The first labour dispute, involving the Writers Guild of America and the Alliance of Motion Picture and Television Producers, affected the production of movies and TV shows and lasted from May to the end of September 2023. This overlapped a dispute with the Screen Actors Guild – American Federation of Television and Radio Artists, which lasted from mid-July to November.

Because the business activities of the post-production industry lag behind film and television production, the effects of the strike will mostly be felt in 2024.

Contact information

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