CNN shed nearly 27% of its viewers this quarter compared to last year. Its annual profits are now below $1 billion. The ratings continue to drop, and the cash is drying up.
The negative outlook for CNN’s business affairs comes three months after Chris Licht took the reins as CEO. Projections indicate the network’s profits are on pace to tumble to $956.8 million this year, the New York Times reported.
The network continues to lean on reporting about former President Donald Trump, but with him not in the White House, that could be playing a major factor in its decline, The New York Times reported.
The network has had an average primetime viewership of 639,000 this quarter, representing a 27 percent dip from last year.
It lags behind MSNBC, which had its own 23 percent decline in viewership.
Licht has reportedly tried to steer the cable network from what he perceives as sensational reporting. Fox News reported that he had told staffers to refrain from deploying the “Breaking News” chyron excessively and wants the network to focus on “truth” instead of alarmism.
The ratings are in alarmist territory. The cash is drying up.
They’ve cut expenses, but there is no mystery about what he has to do to turn the network into a moneymaker. He can’t do it with the same partisan people who misrepresented the truth regularly.
Brian Stelter, Don Lemon, Jake Tapper, and others must go.
Without Trump, they have nothing after relying on Trump almost exclusively for their success for years.
Cable News Ratings Overload – July 30@FoxNews had more total viewers than @MSNBC & @CNN combined with these hosts:@UnfilteredOnFox @DBongino @Kilmeade @LawrenceBJones3@JonScottFNC @GutfeldFox! @GregGutfeld pic.twitter.com/THeoxPHvXa
— RoadMN 📈 (@RoadMN) August 2, 2022