Legacy Media Is Dying Fast — Print News Is the First to Go?

The hosts open with new data showing Canada’s newspaper publishers have suffered a nearly 18% drop in operating revenues between 2022 and 2024, despite years of federal subsidies intended to keep the industry afloat. They highlight that advertising revenue has collapsed even faster—down more than a quarter overall, with digital ads dropping nearly 12%—underscoring that both print and digital models are failing simultaneously. While online subscriptions have ticked up by 4%, the hosts note this growth is far too small to offset the structural decline, raising fresh questions about whether taxpayer support is simply propping up an industry that can’t adapt to real-time digital news cycles.

They pivot to the core problem: print is inherently outdated in a world where news breaks by the minute. Stories written in the early afternoon are already “yesterday’s news” by the time they hit a doorstep or convenience-store rack—if Canadians can even find a place that still sells newspapers. The hosts argue this lag has fundamentally broken the business model, forcing media outlets into dependency on government funding rather than innovation. They stress that businesses either evolve or die, and warn that subsidies only delay the inevitable while draining public money into institutions unwilling to modernize.

The discussion widens into trust. The hosts point to polling from Reuters and The Hub showing that only 37% to 42% of Canadians trust the media most of the time—figures that sharply contradict a recent industry-funded poll claiming trust is rising. They contend the disconnect likely reflects the legacy media’s handling of major recent events—from the trucker convoy to pandemic coverage—and the perception that outlets receiving government funding lack independence. The hosts note viewers increasingly tune in to alternative sources or independent platforms, and that even Canadians who still watch CBC or CTV often do so with skepticism rather than confidence.

They also examine how generational divides play into the collapse. Older Canadians—particularly boomers—still express the highest trust in traditional media, but younger generations have already moved to online platforms where speed, transparency, and community feedback shape credibility. Meanwhile, even mainstream outlets that are modernizing—by shifting to YouTube, TikTok, or livestream-based formats—are doing so slowly and inconsistently, often losing audience to smaller independent creators who have mastered the digital environment.

Finally, the hosts argue the decline of print media is less about technology and more about accountability. They cite multiple cases where major outlets quietly issued corrections or delayed acknowledgment of errors until news cycles had moved on. Combined with taxpayer subsidies, this fuels public suspicion that government-funded outlets are incentivized to avoid certain narratives, reinforcing the perception of bias. The hosts conclude that consumers should question all news—even sources they trust—and ask who benefits from a particular angle or omission. In their view, Canada is watching not just the market failure of print media, but the erosion of public trust in institutions that refuse to adapt, innovate, or operate independently.

https://www150.statcan.gc.ca/n1/daily-quotidien/251110/dq251110a-eng.htm
https://www.westernstandard.news/news/newspaper-revenues-collapse-24-despite-millions-in-federal-bailouts/68936
https://www.junonews.com/p/newspaper-publishers-see-revenues
https://theconversation.com/canadians-trust-in-the-news-media-hits-a-new-low-184302
https://thehub.ca/2024/07/08/deepdive-government-funding-of-the-news-industry-is-eroding-canadians-trust-in-the-media
https://www.pollara.com/wp-content/uploads/2025/07/Trust-in-Media-July-2025.pdf

0:02 – Newspaper Revenues Collapse
1:28 – Print Media Is Obsolete
2:59 – Adapt or Die
3:31 – Digital Subs Up Slightly
4:16 – Trust in Media Survey Disputed
5:03 – Canadians Don’t Trust Legacy Media
6:01 – Boomers Trust, Younger Skeptical
6:35 – BBC/CNN/Fox Included in Poll
7:07 – Post-Convoy Credibility Crash
7:57 – CBC Quiet Corrections
9:00 – Print Sales Vanish
9:52 – Generational Trust Gap
10:11 – Subsidies Undermine Credibility
10:19 – Final Thoughts: Adaptation or Extinction