CNBC
This from 24/7 Wall Street:
It may be that when the stock market is not moving up or down 20% a month that people lose interest. That seems to be the case if the new CNBC ratings are any indication. They fell 50% in October compared to the same month a year ago, according to Nielsen. During "business day” viewing hours from 5 AM to 7 PM the drop was even worse at 52%.
Jim Cramer, whose popularity has been responsible for almost all the success of TheStreet.com (Nasdaq: TSCM), has carried CNBC on his back for some time due to the high ratings of his “Mad Money” show. The ratings for the program dropped 52% in October.
CNBC’s very small competitor Fox Business may have been smart to get cowboy shock jock, Don Imus, now nearly 70, as its morning host. He is, at least, a broadcasting stable will millions of listeners who appear to follow him anywhere and through any weather. His presence is already helping ratings at Fox Business.
Jim Cramer, whose popularity has been responsible for almost all the success of TheStreet.com (Nasdaq: TSCM), has carried CNBC on his back for some time due to the high ratings of his “Mad Money” show. The ratings for the program dropped 52% in October.
CNBC’s very small competitor Fox Business may have been smart to get cowboy shock jock, Don Imus, now nearly 70, as its morning host. He is, at least, a broadcasting stable will millions of listeners who appear to follow him anywhere and through any weather. His presence is already helping ratings at Fox Business.
The viewing public may have tired of hearing about the markets after over a year of relentlessly hysterical news which has been both terribly bad in some patches and improbably good in others. The business networks may have to wait for decades until the next stock market crash and credit market meltdown to get all of their viewers back.
I've said for quite a while that CNBC's ratings were likely in the tank. That's really too bad. When it started out during the 90's bull market it seemed to do a much better job of analyzing news versus just cheer leading the markets as it mostly does today. I find the network worth watching from 7-9:30 Chicago time and then when "Fast Money" is on, which here is between 4-5:00 PM. That's because it is the only show that tries to do any analysis of markets and stocks. Otherwise the programming in mostly "filler". I find that Jim Cramer adds no value anymore. Worse from an advertising perspective most of their target audience may have the TV on during the day but with the sound down. All-in-all not good news for them. I've found that I can tell which way the market is going even with the sound down by watching the expressions on the announcer's faces!
*CNBC is currently owned by General Electric (GE). I am long GE in certain client accounts.
posted by CR English at 6:42 AM
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