Key Takeaways:
- In 2024, FOX News sustains high viewership while CNN and MSNBC experienced drastic drops.
- After Donald Trump’s victory, numerous viewers shifted away from more liberal media platforms.
- FOX News remains the highest-rated cable network for the ninth consecutive year.
- Overall TV news consumption has declined with a growing preference for news on social media.
- Amid declining viewership, news networks are reevaluating anchor salaries and considering layoffs.
FOX News Excels amid Fall in Liberal Media Ratings
2024 has proven to be an exceptional year for FOX News, demonstrating resilience despite a broader trend of decreased television viewership. Following Donald Trump’s victory in the 2024 elections, FOX News witnessed a significant viewer increase while rival networks MSNBC and CNN experienced major ratings drop.
Data reflects that the most significant ratings decrease happened within the networks and shows that openly criticized the Republican party. MSNBC’s Rachel Maddow’s show reported a 43% drop among all viewers and a drastic 56% decrease among the most profitable demographic of 25-54-year-olds. CNN and MSNBC observed an overall decline of 53% and 45% respectively in their prime-time viewership in the month following the elections.
FOX Dominates Year-End Cable Ratings
With a ninth consecutive victory as the highest-rated cable network, FOX embarks into the New Year with hefty momentum. Before Trump’s inauguration, the network sustained 55% of the cable news audience during prime time. FOX experienced double-digit viewer growth in 2024 across all demographics and time slots, signifying its continued stronghold over audiences.
FOX News Media CEO, Suzanne Scott expressed her satisfaction with the year-end numbers. Underscoring FOX News’ commitment to comprehensive coverage, she praised the network’s diverse viewer base across the political divides. Scott emphasized the team’s dedication to providing top-notch reporting, crediting their significant contribution in outperforming rivals.
Media Landscape Changes Amid Declining Trust
Interestingly, reductions in viewership for MSNBC and CNN were consistent with a general decrease in the total number of Americans tuning in to television as a news source. In 2024, only 33% of Americans preferred TV news compared to 40% in 2020.
This decline, attributed partly to ‘resistance fatigue’ and declining trust in journalism is concerning for traditional news platforms. Increasing audience fragmentation and diversification, particularly among younger viewers, suggest the need for media organizations to adapt and innovate.
News Consumption Shifts To Social Media
As the appeal of televised news dimishes, news consumption on social media platforms is on the rise. A surge from 11% to 18% was reported for the number of U.S. adults who prefer social media as their primary news source. Podcasts also gained traction, doubling from 3% in 2020 to 6% in 2023.
Trump’s podcast blitz served as a notable example of the potential reach of alternative news platforms. Amassing over 80 million views on YouTube and extensive visibility on other platforms including Spotify and Apple Music, his influence on these mediums is undeniable.
Strategies To Counter Falling Viewership
Alongside these changes, struggling news organizations have made significant moves to combat declining viewership. Jeff Bezos, owner of The Washington Post, introduced new leadership policies and stirred headlines by withholding endorsement for Kamala Harris, inciting strong internal discord.
These shifts are indicative of the industry’s urgent need to adapt to modern challenges. One such challenge being the high salaries afforded to news anchors and television personalities. With inflated salaries, the scope to fund news reporters decreases, driving the tendency for sensationalism over straightforward reporting.
Outlook Amid Industry Upswing
In an era of declining television viewership and increasing reliance on digital news platforms, traditional news outlets are faced with significant challenges. While some networks soar in such conditions, others suffer great losses. In this intricate and fast-evolving landscape, media organizations are now tasked with revisiting their strategies and building trust among an increasingly discerning and fragmented viewership.