Canada’s shift away from traditional TV continues, with a new report from Convergence Research revealing that 46% of Canadian households (7.35 million) didn’t have a cable, satellite, or telecom-based TV subscription in 2024. This number is expected to rise to 54% by 2027 as streaming services like Netflix and Disney+ dominate the market.

Key findings from the report:
📺 Streaming revenue in Canada grew 15% year-over-year to $4.2 billion in 2024.
📉 Linear TV subscription revenue fell by 5%, totaling around $6.5 billion.
💰 The 10 leading streaming services raised prices by an average of 6%.
📊 Ad-supported memberships cost 39% less on average compared to ad-free options.
📡 Canadians subscribe to an average of 2.6 streaming platforms per household.

Despite this booming market, most streaming revenue is flowing to American companies, with Bell-owned Crave being the only major Canadian service. In response, the CRTC is set to enforce the Online Streaming Act by the end of the year, requiring foreign platforms to reinvest 5% of their Canadian earnings into local content. Some U.S. streamers, including Netflix, are pushing back against the legislation, with Netflix even cutting local arts funding in protest.