The Canadian News Media industry has been struggling to find its way to profitability, reflecting the global state of news media. Declining revenue, inflation, fading interest in print editions, and a struggling local news sector are impacting the publishing industry around the world.
The industry has also faced unique challenges in this country, including Canadian news blocks by Alphabet (Google) and Meta (Facebook & Instagram) in an attempt to avoid fair compensation for the use of their content. This has actually benefited news publishers in some ways, as Canadians rally behind them and call for boycotts. News websites are experiencing a bump in direct website traffic and email subscriptions as well. Clearly, Canadians are receiving the message that these large platforms aren’t concerned about serving them.
According to Reuters, Canadian use of social media for news is already falling:
- 29% of Canadian respondents go to Facebook for news, falling 11%
- 25% visit YouTube for news, falling 7%
- 10% go to Instagram for news, falling 2%
Just 11% of Canadians rely on Twitter for news, but it’s the only platform that didn’t see a decline. Overall, 45% of Canadians use social media as a news source, which began to decline last year.
Canadians Favour Online News Sources
Perhaps the most important number we’re sharing with you here, is 69% of Canadians now use the internet as a source for news, followed by TV (49%), Social Media (45%), and Print (14%).
The favourite online news sources of English-speaking Canadians are:
- CBC News Online 19%
- CTV News Online 18%
- Global News Online 16%
- BBC News Online 13%
- CNN.com 12%
- Yahoo! News 11%
- Globe & Mail Online 10%
- MSN News 10%
- CP24 Online 8%
- Local Daily Newspaper Online (such as the Calgary Sun) 8%
- New York Times Online 8%
- Local Radio News Online 8%
French-speaking Canadians get their online news from:
- TVA Nouvelles Online 27%
- La Presse Online 23%
- ICI Radio-Canada/ICI RDI Online 22%
- Journal de Montreal ou Quebec Online 20%
- MSN News 15%
- L’atualite Online 10%
- Narcity.com 10%
- Local Radio News Online 9%
- Le Devoir Online 9%
- QUB Radio 8%
- Regional or Local Newspaper Online 7%
- Yahoo News 7%
Publishers Are Going All In on Digital Options
It has taken awhile for the industry as a whole to accept digital publishing as a viable alternative to print, or at least a hybrid strategy of print and digital publication. Now that they have, they’re eager to use the internet to grow and maintain profitability.
Podcasts have been a popular enhancement and a source of premium content for publishers for awhile now. Podcasts are popular among English-speaking Canadians (36% listened in the past month) and French-speaking Canadians (26% listened in the past month).
Now, publishers are taking it to the next level with partnerships.
- A Toronto Star Entrepreneurship podcast available on Air Canada.
- A true crime podcast by Postmedia with Antica Productions.
- Jointly commissioned podcasts by CBC/Radio-Canada and the BBC.
- Le Devoir daily news podcast launched with support from the Quebec Ministry of Culture & Communications.
Partnerships have taken other forms as well.
“Postmedia and Canadian-based online betting and casino platform BET99 created a sports betting hub as an affiliate channel to the media’s online offerings,” writes Colette Brin, Director, and Sébastien Charlton, Coordinator, Centre d’études sur les médias, Université Laval for Reuters. “Torstar’s collaboration with academic partners offers evidence-based content on issues related to ageing.”
Digital Growth Continues
Smart Canadian publishers are integrating digital options and implementing digital solutions to ensure future profitability and growth. Canadians want to consume news online and these publishers are determined to meet them there.
They’ve demonstrated their determination with innovative ideas, such as:
Village Media – one of the stars of digital-first, advertising-funded community news websites – expanded in Ontario.
Hebdos Québec group (75 independent publications) acquired the Réseau Sélect French ad network.
The Pipestone Flyer (Black Press, Central Alberta) created a digital subscription program.
The Fredericton Independent launched a subscription-based newsletter.
The Canadian Publishing Industry has plenty of room to grow in the digital space. Just 11 percent of both English-speaking and French-speaking Canadians are currently paying for online news. As with any online business, those who establish themselves first often enjoy the most success. Innovative thinking and an open mind will go a long way towards that success for publishers of all sizes, across the country and internationally.
The key to profitability in today’s news world is to stop thinking like print publishers, and instead think like multi-media publishers. It’s similar to retail embracing omni-channel. Diversify revenue sources to include the same income and marketing strategies as digital-first media, such as sponsored online content, gated content (paywall), and affiliate marketing. You don’t have to eliminate print publishing if it’s still generating revenue, but you must modernize and expand it to thrive.
