In its latest report, Invest Vancouver — the lower mainland’s economic development service — has taken a deep-dive into the digital media and entertainment sector in the region. It’s a topic that’s more than worthy of analysis, given the city’s standing as a leader in the area, and local politicians’ penchant for highlighting the industry on trade missions. 

The digital entertainment and media industry is globally valued at $2.32 trillion, and Vancouver companies make up a significant portion of that number. In the videogame category, B.C. contributes $900 million of the $5.5 billion industry in Canada. For immersive media — VR, AR, and other mixed realities — local businesses provide $2.3 billion in value, or 35 percent of the country’s revenue in the sector. Animation sees the province host more studios than even Los Angeles or London, and its cousin VFX ranks just behind those powerhouse locations by company count, with $1.4 billion spent annually in B.C. on those combined technologies.

It’s not all good news, though, with Vancouver stacking up unfavourably against tax incentives and credits offered by other Canadian provinces, and much of the industry still choosing to settle in L.A. and other leading film hubs. 

Find out the key takeaways from the Invest Vancouver report, and discover how the city can maintain its reputation in the industry.

Subscribe to Premium to read the rest.