Last year, the video game industry contributed a total of $5.1 billion to the Canadian economy, roughly a third of what the auto manufacturing industry was worth in 2022.
According to a recent study released by the Entertainment Software Association of Canada, the industry employs more than 34,000 people across 821 studios, 86% of whom are full-time, and earn an average of $102,000 per year — nearly twice the national average.
- A post-pandemic shake-up contributed to a 9% decline in the number of companies between 2021 and 2024, but the industry’s economic impact grew by 3% in that time.
Why it matters: Canada has gained a reputation for putting out hugely popular games like Assassin's Creed and NHL 24 and is now one of the top countries globally for video game development. The sector now generates more revenue than any digital media in the country.
- Canada is also home to Montréal-based Ubisoft, one of the biggest independent game publishers, and the world’s largest gaming studio, located in Burnaby, B.C.
Big picture: Experts say the competition is heating up. The tax credits and funding programs that have helped get big companies to set up studios in Canada are now being replicated in other countries like Australia, Ireland, and Singapore.—LA