Posted on 08/02/2022 1:53:48 PM PDT by Oldeconomybuyer
One of the first moves the newly formed Warner Bros. Discovery made when it took over CNN was shutting down CNN+, the nascent streaming service that was touted as the network’s bridge to the future.
The next month, when Chris Licht took over as CNN’s chairman, he told employees in his first town hall meeting not to worry about ratings, a mainstay of TV news used as a benchmark for revenue and relevance.
Now, three months into Licht’s tenure, the network finds itself facing big questions about how it can continue to grow its business with its moonshot streaming service dead and the traditional TV business in structural decline.
Projections from S&P Global Market Intelligence say that CNN’s profitability is on pace to decline to $956.8 million this year. That would mark the first time since 2016 that the network has dipped below $1 billion in profit.
Ratings are down from their Trump-era heights across cable news, but declines at CNN are particularly pronounced. The network has drawn an average of 639,000 people in prime time this quarter, according to data from Nielsen, a 27% decrease from a year ago. It trails MSNBC, which is down 23% in prime time during the same period, and Fox News, where viewership is up about 1%.
(Excerpt) Read more at sfgate.com ...
People still watch CNN?
I thought profits were bad.
Can you plummet from dismal ??
Hmm, CNN down 27%, MSNBC down 23%. I love a feel-good story!
With the MAGA blowout coming up in November, they won’t have much news to cover..but maybe football. Expect their ratings to go even lower. They are MISSING out on the greatest social changes ever taking place in the USA. They are not reporters..they are plotters, trying to plot our course.
More like a bridge to nowhere...
Trump is the only thing that could save CNN.
A billion in profits?
ATT kept that crap network on life support — long enough to help perpetuate “the steal”
Truth Social should buy it. *grin*
.
Businesses and Airports pay the freight for Fake News CNN.
Even Libs know it’s fake.
CNN profits ratings , is this an oxymoron ,LOL
I think all the cable networks will keep shrinking - including Fox. Old people make up the bulk of their viewership - and as they die off, they won’t be replaced by successive generations.
Young people bounce around the internet to get their “news” - they don’t sit there watching CNN or MSNBC or Fox - they don’t have that kind of attention span.
Crash baby, crash!
CNN should have bought Trump a car with a bow on it.
Without cable money they would be off the air.
Excellent news.
Compared to many of the members of Free Republic, I would probably be considered one of those young people. I’m 42. I used to get my news from Free Republic, and Rush. With Rush gone, I now get my news from Free Republic only.
They are not yet being punished for their evil.
Lower ratings? Not enough. They endangered Trump and all of us against our enemies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.