Shrinking Magazine Market for Short Stories

There used to be a day when authors could easily publish short stories (and poetry) in magazines and get paid for their work. The checks weren't always big, but they provided some monetary compensation for the struggling writers who were working hard to hone their craft and build their credits.

Unfortunately, not only have many of these magazines stopped paying contributing authors, but--due to subscription shortages--they have altogether vanished from the market. Every year I received emails or letters from editors notifying me that "Such and Such Quarterly" will no longer be in business.

How will agents and major publishing houses discover new voices? Is the industry changing?

-CC ♈♈