(DailyChive.com) -Liberal news network CNN and its parent company, Warner Bros. Discovery, face a significant decline in their advertising revenue as the network suffers from a major dip in its viewership.
Warner Bros. Discovery missed its business targets after seeing a 11% decline in its ad revenue in the first quarter of 2024. Following this news, the network also saw its stock depreciating by 4%.
According to company’s executives, this decline in business activity is the result of a dwindling advertisement market in America and the changing preferences of viewers.
The latest available viewership data suggests that CNN is trailing behind FOX News and MSNBC in both day viewers and primetime shows.
CNN got 462,000 daily day time viewers in March compared to FOX News, which managed to get 1.31 million eyeballs during the same timeframe. CNN also showed miserable performance in the primetime shows, with only 601,000 eyeballs tuning into the channel per day, while 2.135 million watched FOX News.
CNN’s internal struggles have also played a massive role in its prevailing viewership crisis. The network changed its top leadership and laid off multiple staff members, alongside shuffling the on-air anchors in a failed bid to capture more eyeballs.
Meanwhile, Warner Bros. Discovery tried to downplay this latest news by announcing two new “Lord of the Rings” movies, the first one of which is likely to be released in 2026.
CNN was once celebrated widely due to its balanced coverage of most political issues. However, the channel has started leaning left in recent times, which has reduced its popularity among Americans.
In recent times, there has been a general downturn in the Cable TV industry as more and more people shift to alternate forms of news consumption like social media websites and online reading.
Reportedly, only 38% of American homes will have cable TV in 2028, which suggests that such struggles for media giants are far from over.
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