A tax credit for the digital transformation of traditional print media companies has also been extended by one year to Dec. 31, 2023. The government is also prolonging the ministry of culture and communications’ current support program for print newsrooms by two years until 2024.
At the same time, traditional newspapers requiring immediate financial assistance will be able to apply for temporary funding through Investissement Québec.
The measures come after media representatives appeared before a committee tasked with studying the industry’s crisis at the province’s National Assembly in late August.
Over the past 10 years, newspapers have seen a sharp drop in subscriptions and have lost advertising revenue to online giants like Google and Facebook.
Many pointed out that traditional newspapers have struggled amid those changes. During the hearings, some also urged the government to act before Quebec’s local media disappears.
© Global News