Canadian Literary Agents Fantasy

What is the new dynamic for fiction writers to get their works published? Do the old methods still work?
It used to be there was a basic formula for a fiction writer to become a professional. First, they’d write some quality short stories. Then they’d submit to magazines and hopefully make some sales, and with luck and experience eventually making it into a few of the better-known magazines. Then, once the writer’s name was known a little by some of the editors in the fiction world, and it was known the writer could produce quality work, the writer got to typing on a novel.