The Canadian newspaper publishing sector still generates $1.9B in revenue in 2024, despite an average annual decline of 8.1% since 2019. It employs nearly 11,000 people across 948 companies, mostly dominated by a few national groups, and shows a profit margin of 5.5%.
The bulk of revenue still comes from the major metropolitan areas of Ontario and Quebec, but the digital share (advertising and subscriptions) now exceeds 40% of total revenue, demonstrating that publishers are successfully capitalizing on the migration of readers to online platforms.
Three figures summarize the sector’s size, profitability, and transformation pace.
Total value of printed and digital newspaper sales in Canada.
Portion of revenue converted into net profit, reflecting effective cost restructuring.
Combined weight of digital advertising and subscriptions in total revenue, rising sharply since 2019.
Audience fragmentation, the rise of mobile, and generative AI are pushing publishers to diversify their models: thematic bundles, podcasts, paid newsletters, and branded content will help offset the ongoing decline in print.Improved use of reader data should support the conversion of free visits into subscriptions, while consolidation (acquisition of regional titles by large groups) will streamline remaining print costs.
Under these assumptions, the revenue decline is expected to slow to –1.3% per year by 2029, with profitability stabilizing around 6%.
Three figures summarize the sector’s size, profitability, and transformation pace.
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