Canada's Local Business News: A Fading Voice in Communities
Canada's local business news is vanishing: 516 outlets closed since 2008, shrinking community voices and entrepreneurial storytelling.
News Trends
Part 1 of 4
The decline of local business news in Canada reflects a troubling trend threatening community engagement and informed decision-making. Over the past 15 years, the media landscape has dramatically shifted, leaving significant gaps in local journalism and business reporting.
Since 2008, Canada has lost 516 local news outlets, including newspapers, radio, TV, and online platforms, spanning 345 communities nationwide. In 2023 alone, 29 community newspapers and seven radio stations shut down, further narrowing the avenues for local business news.
The rise of digital platforms has compounded the problem. The introduction of the Online News Act led to news bans on platforms like Meta, resulting in a staggering 58% decline in online engagement for local Canadian news. While aiming to support journalism, this policy inadvertently reduced visibility for smaller outlets struggling to retain readership.
Financial pressures are mounting. Iconic local media companies like SaltWire Network Inc., Atlantic Canada’s largest newspaper group, have sought creditor protection, signaling an industry-wide financial crisis. Meanwhile, advertising revenue, the lifeblood of local journalism, continues to decline due to competition from digital giants like Google and Meta.
Adding to the complexity is the decline in entrepreneurial activity. Canada has lost 100,000 entrepreneurs since 2000, shrinking the pool of local business stories. The dwindling number of local startups and businesses limits the content pipeline for business news coverage, diminishing its relevance.
The erosion of local business news has far-reaching consequences. Communities lose an essential platform to celebrate achievements, discuss challenges, and drive economic development. Without robust local journalism, residents and entrepreneurs face a growing information void.
As news deserts expand across Canada, the urgent need to support local business journalism becomes clearer. It's a call to action to preserve the stories that connect communities and fuel progress.
George Moen: Publisher / Co-Founder WRN
Tags: #News Trends #George Moen #Local News Matters #Business Journalism #Canada News Crisis #Support Local Media #Series -Online News Act
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