August 10, 2022
CNN ratings in freefall, profits fall: report

published by the New York Times report good CNN on Tuesday highlighted the recent crisis.

According to people familiar with the network’s operations, the network is on pace to drop below $1 billion in profit for the first time in years, according to people familiar with the network’s operations, amid a sharp drop in TV viewership, the New York Times reported.

The Times noted that CNN’s new president, Chris Licht, told employees not to worry about ratings early in his term.

The report said, “Three months after Mr Licht’s tenure, the network finds itself facing big questions about how it will continue to expand its business with its Moonshot streaming service dead and a structural decline in the traditional TV business. can keep.”

According to estimates from S&P Global Market Intelligence, CNN’s profits are projected to fall below $1 billion. The last time the network saw profits of less than $1 billion was in 2016.

The Times also reported that Chris Marlin, a longtime friend of Licht’s and CNN’s new addition, recommended “expanding CNN’s brand in China” to secure additional revenue.

CNN viewership has dropped significantly since former President Donald Trump left office.

“Ratings in cable news are well below Trump-era highs, but the decline is particularly evident in CNN,” the Times reported.

One Wells Fargo analyst told the Times that CNN’s declining ratings are particularly worrying for the network because “when they [traditional TV] The spending decisions advertisers make are primarily related to the size of the total audience.”

trust the media record lowAccording to a recent Gallup poll. Only 11% of respondents had a “great deal or a lot” of confidence in the industry, a 5% drop from the previous year. Conservative critics have long accused the mainstream media of liberal bias. They point to recent stories that mainstream media have pushed like a debunked steel dossier and describe the 2020 summer riots that stemmed from Black Lives Matter protests “Mostly peaceful.”

Brian Flood contributed to this report.

Leave a Reply

Your email address will not be published.