The operating revenue of Canadian newspaper publishers declined to just under $2.0 billion in 2022, down 7.9% from 2020, when the survey was last conducted. While this drop was smaller than in 2020, the industry continued to see falling circulation sales and significant competition for advertising spending.
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Newspaper Advertising Sales Grim Future
In 2020, newspaper publishers’ advertising sales, their biggest source of revenue, fell significantly (-37.3%) from 2018, largely because of weakened demand during the COVID-19 pandemic. Despite there has been some recovery in advertising demand, advertising sales grew marginally (+1.3%) from 2020 to 2022, reaching $951.0 million. From 2020 to 2022, print advertising sales declined 9.8% to $613.6 million. Conversely, digital advertising sales grew significantly, increasing 30.4% to $337.4 million.
Print circulation sales continued their decline, falling 12.0% from 2020 to 2022 to $459.7 million. While digital circulation sales (+65.5%) showed strong grow