By Canadian Press

Film industry declined by 5 per cent in pandemic, Hollywood productions grew: report

Apr 12, 2022 | 10:54 AM

OTTAWA — Canada’s film and TV industry remained afloat at the height of the pandemic, experiencing only a five per cent slump in the number of productions between April 2020 and March last year.

A new report from the Canadian Media Producers Association says though the number of TV pilots plummeted, production by foreign studios in Canada actually grew to $5.27 billion. 

Hollywood and other foreign studios generated over 300,000 Canadian jobs and more than $20 billion in GDP by making films in Canada. 

Homegrown productions, however, declined by 12 per cent, mainly because insurers withdrew their backing when the pandemic hit. 

The survival of the film industry during the early part of the pandemic is due largely to the federal government stepping in to underwrite Canadian productions that could not get insurance.  

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In last week’s budget, Ottawa extended its film compensation fund by $150 million until next year. 

This report by The Canadian Press was first published April 12, 2022.

The Canadian Press