One streaming service down, another ‘continues to grow:’ Bell CEO

WINNIPEG – The president and CEO of Bell Canada says his company's video-streaming service CraveTV is growing as a competitor prepares to shut down.

George Cope says the demise of Shomi — operated by Rogers (TSX:RCI.B) and Shaw (TSX:SJR.B) — means CraveTV will compete more directly against Netflix.

Shomi announced on Monday it is shutting down at the end of November after two years of operating, because of smaller than expected subscriber numbers.

Cope says CraveTV is meeting Bell's (TSX:BCE) expectations and is growing, although the company does not release specific subscriber numbers.

Netflix continues to dominate the Canadian streaming landscape.

Solutions Research Group, a Toronto-based consumer-research firm, estimated earlier this year that five million Canadians subscribed to Netflix — seven times more than Shomi and CraveTV combined.