The American people have sent a resounding message to CNN and other biased “news” networks that insist on running Democrat Party propaganda day after day.
There truly isn’t a cable news network on the air today that’s so egregiously steeped in liberal bias while claiming they present a balanced view of politics and current events — and based on their earnings it’s clear that America has had enough.
CNN shed nearly 27% of its viewers this quarter compared to last year and could see its annual profits dip below $1 billion for the first time since 2016, according to a new report.
The bleak 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.
Initially, CNN was reportedly targeting $1.1 billion in profits for 2022 but had been projected to run about $100 million short of that target. Financial losses as a result of CNN+’s collapse, which shuttered after about a month from its start date, exacerbated the company’s woes even further.
Since his accession to CEO, Licht has reportedly been keen on steering the cable network from what he perceives as sensational reporting. He has told staffers to refrain from deploying the “Breaking News” chyron excessively and wants the network to focus on “truth” instead of alarmism, Fox News reported.
Licht’s style marked a significant departure from predecessor Jeff Zucker, who resigned from the network earlier this year under pressure when details emerged of an undisclosed relationship he had with a colleague. Zucker’s departure came amid a pending shake-up as CNN’s former parent company, WarnerMedia, merged with Discovery.
The network drew an average of roughly 639,000 prime-time viewers during Q1 — a 27% nosedive from a year ago, per the New York Times. This puts CNN behind MSNBC, which is down 23% during the same time frame, and Fox News, which is up about 1%.
In an effort to remedy their failure, CNN executives have reportedly considered a bevy of solutions, including advertising deals with Big Tech, selling sponsorships, and expanding operations in China.
As a cable network, the majority of CNN’s revenue comes from subscription deals with cable companies, but it has also historically relied on advertisement revenue, which is affected by ratings.
The past year has been tumultuous for CNN amid several public scandals that have dogged the network.
Prime-time host and major ratings draw Chris Cuomo was terminated upon revelations of how he assisted his brother, the former governor of New York, with his response to a sexual misconduct scandal.
Other anchors at CNN simply make viewers feel uncomfortable, most notably Brian Stelter, who barely even resembles a human being.
Considering CNN’s rampant decline, it makes perfect sense to wonder whether Donald Trump’s departure from the White House played a key factor in the network’s decrease in revenue.
Author: Asa McCue