Canada’s big business winners of 2020
2020 might be in the rear-view mirror, but it doesn’t mean its influence is in the past. By reflecting on the last year, businesses can evaluate what worked well and what didn't, using this information to tweak their strategies. In many ways, the last twelve months have been a transformative time, and, with that in mind, here are the standout winners, and the lessons you can learn from their examples.
It's well-known that Netflix and Amazon had a prosperous year, with a 51% increase in viewership. However, the benefits of a 70% increase in internet usage didn't stop with streaming services, but affected all forms of online entertainment. There has been a worldwide increase in social media, online gaming, listening to the radio, and creating and uploading video content. It also appears that the online casino industry in Canada experienced a very welcome boost, with Ibis World recording a 1.2% increase in popularity, valuing the sector at C$14 billion overall.
This rise in popularity has led to an influx of options, with more than 100 available at the time of writing. Therefore, standing out from the competition became a necessity for casino providers. As a result, this raised the standard of the digital casino market, which manifested in two main ways. The first way the standard was raised was through technology, with more focus on mobile integration, progressive games, and more sophisticated software such as VR and AR.
The second way was by offering more options for players. For example, Fruit Kings is one of the most popular casino platforms due to its wide range of choices in the form of live casino and skill-based games. By utilising its offerings, FK appeals to players in a saturated market where others would struggle.
The term iGaming has become a buzzword in the past couple of years, and 2020 was the year that highlighted why. Even with next-generation consoles on the horizon, such as the much-anticipated PS5 and Xbox Series X and S, aging hardware continued to prosper.
For instance, S&P Global reports that Sony sold 1.9 million PS4 units in the second quarter, up from 1.4 million units in the first quarter. Sony’s main rivals, Microsoft and Nintendo, also reported Q2 increases with sales of 1.4 million and 5.7 million, respectively.
Video Conferencing Software
After a preference for home-based working arose, brands such as “Zoom” became household names. Canada was no exception to the rule as Zoom, in particular, outshone most of its rivals.
Finder points out that it has topped the 1 billion total meeting minutes mark, which is impressive in itself. But the Business of Apps shows it did so whilst banned from some organisations, including the Canadian government which really portrays Zoom's prevalence. Its rise to fame has allowed the company to increase meeting plan prices to C$20 and take advantage of its popularity among consumers.
Fifth generation mobile software is a sign that companies can’t rest on their laurels. Although 4G isn’t very old, it’s already being phased out in Canada as channels that could have been used with fourth-gen are now 5G-equipped.
According to Globe News Wire, Rogers, powered by Ericson, had rolled out 5G networks in 60 towns and cities by the end of 2020. This is expected to contribute an estimated C$40 billion to the country’s economy, making fifth-gen providers big players in Canada and the rest of the world.
2020 might have been a good year, but 2021 could be an even bigger one for your organisation. The key is to recognise and invest in the opportunities that arise to put your brand ahead of competitors.