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Alberta’s Interactive Digital Media Industry Set to Boost Province’s Economy by $169M by 2030

September 23, 2024 by Robert Lewis Leave a Comment

Alberta’s burgeoning Interactive Digital Media (IDM) industry is on track to significantly impact the province’s economy, contributing up to $169 million to Alberta’s GDP by 2030, according to a new study from the Information and Communications Technology Council (ICTC).

The IDM sector, which encompasses video games, animation, visual effects, post-production, extended reality, digital models, and digital twins, has become a key driver of economic and labor market growth. Alberta is home to 177 IDM studios, and the study highlights their growing importance to the province’s economy.

Key findings from the study include that employment in Alberta’s IDM industry is projected to grow at a faster rate than the province’s general economy in the coming years. Studios in Alberta are also offering competitive wages when compared to industry hubs like Toronto, Vancouver, and Montréal, making the province an attractive destination for tech talent.

However, the report also raised concerns about a talent shortage, particularly in mid- to senior-level positions. Without targeted incentives to attract and retain talent, Alberta risks losing top IDM professionals to other markets. The study suggests that strategic interventions focusing on labor attraction, retention, and skills development are essential for the province to maintain its momentum in the IDM space.

While Alberta is still emerging compared to Canada’s largest IDM clusters in Vancouver, Toronto, and Montréal, the province is proving to be increasingly competitive. Its IDM industry leverages Alberta’s strengths in energy, manufacturing, and healthcare to develop interactive digital products and services for these sectors. According to the report, 52% of Alberta’s IDM companies are based in Calgary, 44% in Edmonton, 3% in Lethbridge, and 4% in other locations.

The report, titled Virtual Frontiers: A Study on Alberta’s Interactive Digital Media Industry, was produced in partnership with Digital Alberta, the Government of Alberta, and the Government of Canada. It provides a comprehensive analysis of the IDM industry’s economic potential, labor market impacts, and its role in Alberta’s broader economic landscape.

Alecia Peters, Executive Director of Digital Alberta, expressed optimism about the industry’s future: “We’re excited to see the growth that’s taken place in the interactive digital media sector. Creative technologies, including gaming, are not only entertaining billions of players around the world but also transforming primary industries, many of which are headquartered in Alberta. With the right supports in place, we’ll see exponential growth in jobs and IP development—creating long-term economic impact and advancing innovation in our province.”

As Alberta’s IDM sector continues to evolve, the study’s findings suggest that the province is well-positioned to become a major player in Canada’s IDM ecosystem, provided it can overcome the challenges of talent retention and development.

Filed Under: News Tagged With: Information and Communications Technology Council

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