The New Year brings lots of revenue data and Monday morning quarterbacking (or should we say January-quarterbacking?).In the newspaper business, stocks plummeted an average of 27% in 2011. In fact, every major print/online news outlet saw a decline, except for Rupert Murdoch’s News Corp, which has employed a strict paywall strategy for years. This is good news for subscription sites, and with the New York Times’ adoption of a paywall strategy in 2011 (albeit a confusing one), there’s hope that the news industry may be able to turn things around in 2012.In the magazine world, Hearst’s digital side achieved profitability for the first time in 2011, giving hope to the rest of the magazine industry. Hearst accomplished this feat by mixing print and online revenues at home (40% of revenues) and internationally (another 40%) with some SaaS (Software as a Service) like iCrossing (20%).And while media merger & acquisitions were up for 2011, the total revenue from such deals still haven’t come close to what they were in 2007.So, overall, a mixed bag for the paid content business. But it’s not whether you see the glass as half full or half empty — it’s if you’re pragmatic enough to find ways to fill it.