Canada may be the last bastion of the print newspaper, says a number of experts on the matter. According to the British Guardian, for instance, Canada's newspaper industry averaged a 9.9 percent pre-tax profit margin last year.
While it is true that advertising revenue has plummeted in recent years - in Canada and abroad - the declines have leveled off, and newspapers are beginning to recover.
David Olive writes in the Toronto Star that the traditional and tactile appeal of newspapers offers something its digital and online rivals cannot - a factor that many believe will contribute to its continued relevance.
"Newspapers are still profitable, even in the midst of the most punishing ad drought in memory," Olive writes. "Readership is at record levels, despite price hikes imposed by publishers. And web interlopers haven't laid a glove on the industry's status as society's dominant news gatherer."
However, a number of challenges remain. The Wall Street Journal recently reported that U.S. advertisers will have spent $25.8 billion in online ads by the end of 2011, compared to only $22.8 billion on newspapers. As online spending passes print this year, experts maintain that it will not spell annihilation for the industry, but only further emphasize the need for newspapers to adapt.
