CNN’s Falling Ratings Pose Risk Of Funding Cuts
(LibertySociety.com) – According to The New York Times, S&P Global Market Intelligence reported CNN’s profits are down. It’s the first projection of the company making under $1 billion in the past six years. Internal sources said the network hoped to bring in about $200 million more than it probably will by the end of 2022. The NYT pointed to the loss of CNN+ as part of the reason for the dismal alleged income.
After Warner Bros. merged with Discovery, one of the newly restructured company’s first moves was to cut its streaming service for lack of ratings. In fact, the NYT reported only 10,000 viewers were watching the Plus network, making it hard to justify the program’s cost.
SCOOP — CNN is on pace to dip below $1 billion in profit for the first time since 2016 amid crashing ratings, sources say:https://t.co/10Fw7iofrp
— Ben Mullin (@BenMullin) August 2, 2022
In February, Forbes announced the outlet’s prime time ratings fell almost a whopping 70%, while Fox News increased its overall viewership by 2% during the same time. MSNBC also saw a drop of 62%, but that number wasn’t as bad as the now-Warner Bros. Discovery conglomerate.
Although the new network chairman, Chris Licht, is looking for ways to bring in extra cash by bringing in fresh ideas from his friend, Chris Marlin, Head of Strategy and Business Operation, it seems CNN is cutting costs to maintain whatever profit the company can muster.
Do you think the projections indicate the outlet is losing touch with its targeted demographic, or do you believe the dip is just a hiccup in the road?
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