Numbers, Facts and Trends Shaping Your World

Cable News Fact Sheet

Cable TV is home to a set of television channels whose news broadcasts have become an important information source for many Americans. In 2022, both prime-time and daytime cable news audiences increased for Fox News but decreased for CNN, MSNBC and Newsmax. Explore patterns and longitudinal data about cable news below.

Audience

According to Comscore TV Essentials® data, viewership decreased for CNN and MSNBC but increased for Fox News in 2022. The average audience (defined as the average number of TVs tuned to a program throughout a time period) for the prime news time slot (8 to 11 p.m.) decreased by 25% for CNN, from 1.1 million in 2021 to 828,000 in 2022. MSNBC’s audience declined by 6% over this period, from about 881,000 to 827,000. On the other hand, Fox News’ audience increased from 1.9 million in 2021 to 2.1 million in 2022, a 10% increase.

Newsmax, a relatively smaller cable news channel that gained prominence during the 2020 election, had an average audience of 129,000 in 2022, an 18% decline from 2021.

For the daytime news time slot (6 a.m. to 6 p.m.), CNN, MSNBC and Newsmax saw decreases to their average audiences in 2022 while Fox News saw a 12% increase.

Average audience for cable TV news: Prime news


Average number of TVs tuning to news programming during the prime news time slot for CNN, Fox News and MSNBC

YearCNNFox NewsMSNBC
20161,347,4991,881,928975,885
2017989,3981,465,8001,077,559
2018982,6381,619,5891,222,458
20191,051,0611,919,1731,251,094
20201,803,7823,082,9611,597,577
20211,103,2621,944,864880,639
2022828,0732,147,100827,182

Note: Numbers represent CNN, Fox News and MSNBC for the full year and include live viewership only. “Average audience” is the average number of TVs tuned to an entity throughout the selected time frame. It is calculated by dividing the total hours viewed by the length of the time frame (in hours). National news is defined as any telecast that has been flagged by Comscore (either by notification from clients or from standard processes) as being a news-based program airing at approximately the same time across a majority of markets. The prime news time slot includes newscasts that air from 8 to 11 p.m. for national programs and for stations in Eastern/Pacific time zones or 7 to 10 p.m. for stations in other time zones.

Source: Comscore TV Essentials®, 2016-2022, U.S.

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Average number of TVs tuning to news programming during the prime news time slot for Newsmax

YearNewsmax
2020115,118
2021157,513
2022129,218

Note: Numbers represent Newsmax for the full year and include live viewership only. “Average audience” is the average number of TVs tuned to an entity throughout the selected time frame. It is calculated by dividing the total hours viewed by the length of the time frame (in hours). National news is defined as any telecast that has been flagged by Comscore (either by notification from clients or from standard processes) as being a news-based program airing at approximately the same time across a majority of markets. The prime news time slot includes newscasts that air from 8 to 11 p.m. for national programs and for stations in Eastern/Pacific time zones or 7 to 10 p.m. for stations in other time zones.

Source: Comscore TV Essentials®, 2020-2022, U.S.

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Average audience for cable TV news: Daytime news


Average number of TVs tuning to news programming during the daytime news slot for CNN, Fox News and MSNBC

YearCNNFox NewsMSNBC
2016700,6621,146,520529,723
2017679,9471,090,430569,357
2018664,4341,100,619672,817
2019687,4181,253,005765,725
20201,193,9751,758,9641,051,594
2021802,2641,188,700589,781
2022646,0581,328,855536,843

Note: Numbers represent CNN, Fox News and MSNBC for the full year and include live viewership only. “Average audience” is the average number of TVs tuned to an entity throughout the selected time frame. It is calculated by dividing the total hours viewed by the length of the time frame (in hours). National news is defined as any telecast that has been flagged by Comscore (either by notification from clients or from standard processes) as being a news-based program airing at approximately the same time across a majority of markets. The daytime news time slot includes newscasts that air from 6 a.m. to 6 p.m. for national programs and for stations in Eastern/Pacific time zones or 5 a.m. to 5 p.m. for stations in in other time zones.

Source: Comscore TV Essentials®, 2016-2022, U.S.

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Average number of TVs tuning to news programming during the daytime news time slot for Newsmax

YearNewsmax
202088,637
2021110,138
202287,178

Note: Numbers represent Newsmax for the full year and include live viewership only. “Average audience” is the average number of TVs tuned to an entity throughout the selected time frame. It is calculated by dividing the total hours viewed by the length of the time frame (in hours). National news is defined as any telecast that has been flagged by Comscore (either by notification from clients or from standard processes) as being a news-based program airing at approximately the same time across a majority of markets. The daytime news time slot includes newscasts that air from 6 a.m. to 6 p.m. for national programs and for stations in Eastern/Pacific time zones or 5 a.m. to 5 p.m. for stations in in other time zones.

Source: Comscore TV Essentials®, 2020-2022, U.S.

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Economics

Total revenue decreased for CNN and MSNBC and increased for Fox News in 2022, according to estimates from Kagan, a media research group in S&P Global Market Intelligence. CNN’s total revenue decreased by 5%, from $1.9 billion in 2021 to $1.8 billion in 2022. Similarly, MSNBC’s revenue fell from $977 million to $903 million, an 8% decrease. Fox News saw a 5% increase, from $3.1 billion in 2021 to $3.3 billion in 2022.

License (affiliate) fees, one of two main sources of revenue for the major cable channels, remained relatively stable for all three. Advertising revenue, these channels’ other main source of revenue, decreased by 13% for CNN and by 11% for MSNBC in 2022, while Fox News saw an 11% increase.

In 2022, Newsmax made $66 million in revenue, a 14% decrease from 2021. Since Newsmax had zero license fee revenue, virtually all of the channel’s revenue came from advertising.

Total revenue for cable TV


Total annual revenue (in U.S. dollars)

YearCNNFox NewsMSNBC
2006$822,600,000$688,140,000$270,727,000
2007$881,300,000$825,791,000$301,425,000
2008$1,026,800,000$1,084,679,000$366,565,000
2009$1,001,800,000$1,282,434,000$357,252,000
2010$1,010,400,000$1,466,000,000$392,000,000
2011$1,080,500,000$1,624,100,000$449,300,000
2012$1,078,733,000$1,812,448,000$503,205,000
2013$1,098,630,000$1,922,476,000$503,744,000
2014$1,126,692,000$2,010,738,000$501,222,000
2015$1,207,940,000$2,209,110,000$510,557,000
2016$1,470,605,000$2,452,459,000$666,813,000
2017$1,631,451,000$2,663,411,000$798,640,000
2018$1,677,922,000$2,620,603,000$963,067,000
2019$1,703,186,000$2,711,220,000$1,003,677,000
2020$2,010,239,000$3,009,488,000$1,086,359,000
2021$1,860,771,000$3,108,864,000$977,322,000
2022$1,774,389,000$3,260,143,000$902,603,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.nn

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Total annual revenue (in U.S. dollars)

YearNewsmax
2020$55,248,000
2021$77,202,000
2022$66,159,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.

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Advertising revenue for cable TV


Net annual advertising revenue (in U.S. dollars)

YearCNNFox NewsMSNBC
2012$327,718,000$742,329,000$244,394,000
2013$319,796,000$776,401,000$223,781,000
2014$324,866,000$774,192,000$212,633,000
2015$361,461,000$814,858,000$222,219,000
2016$538,782,000$916,715,000$351,360,000
2017$615,275,000$1,007,565,000$467,232,000
2018$595,641,000$854,507,000$572,127,000
2019$574,068,000$846,768,000$619,544,000
2020$841,632,000$1,066,214,000$709,355,000
2021$679,467,000$1,037,508,000$594,716,000
2022$590,409,000$1,146,806,000$529,833,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.

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Net annual advertising revenue (in U.S. dollars)

YearNewsmax
2020$53,857,000
2021$75,769,000
2022$64,683,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.

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CNN, Fox News, MSNBC and Newsmax all saw their total profit decline from 2021 to 2022, with decreases ranging from 5% for Fox News to 23% for Newsmax.

Total profit for cable TV


Total annual profit (in U.S. dollars)

YearCNNFox NewsMSNBC
2006$256,300,000$215,602,000$84,206,000
2007$291,000,000$304,360,000$109,691,000
2008$409,900,000$502,588,000$148,087,000
2009$417,500,000$640,734,000$159,724,000
2010$395,300,000$779,900,000$167,500,000
2011$429,500,000$884,200,000$190,500,000
2012$401,584,000$1,006,237,000$235,869,000
2013$347,654,000$1,121,176,000$227,181,000
2014$321,642,000$1,178,676,000$181,853,000
2015$430,887,000$1,305,872,000$206,253,000
2016$634,195,000$1,471,409,000$309,697,000
2017$745,252,000$1,628,250,000$372,837,000
2018$752,994,000$1,521,122,000$428,873,000
2019$755,073,000$1,552,872,000$540,163,000
2020$1,080,313,000$1,802,881,000$660,657,000
2021$972,378,000$1,870,250,000$546,099,000
2022$892,302,000$1,780,202,000$454,681,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligencenn

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Total annual profit (in U.S. dollars)

YearNewsmax
2020$26,986,000
2021$48,335,000
2022$37,002,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.

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Newsroom investment

Total newsroom spending by CNN, MSNBC and Newsmax was fairly flat in 2022. CNN and Newsmax’s expenses remained largely unchanged in 2022, while MSNBC saw its expenses increase 4%. Meanwhile, Fox News increased newsroom spending by 19%, spending about $1.5 billion on newsroom expenditures in 2022.

Newsroom spending for cable TV


Total newsroom spending (in U.S. dollars)

YearCNNFox NewsMSNBC
2006$566,300,000$472,538,000$186,521,000
2007$590,300,000$521,431,000$191,734,000
2008$616,900,000$582,091,000$218,478,000
2009$584,300,000$641,700,000$197,528,000
2010$615,100,000$686,100,000$224,500,000
2011$651,000,000$739,900,000$258,800,000
2012$677,148,000$806,211,000$267,336,000
2013$750,975,000$801,299,000$276,563,000
2014$805,049,000$832,063,000$319,368,000
2015$777,053,000$903,238,000$304,304,000
2016$836,411,000$981,050,000$357,116,000
2017$886,198,000$1,035,161,000$425,803,000
2018$924,928,000$1,099,481,000$534,194,000
2019$948,113,000$1,158,347,000$463,514,000
2020$929,927,000$1,206,608,000$425,702,000
2021$888,393,000$1,238,614,000$431,223,000
2022$882,087,000$1,479,941,000$447,922,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.n

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Total newsroom spending (in U.S. dollars)

YearNewsmax
2000$28,262,000
2010$28,867,000
2020$29,157,000

Note: Numbers are estimates and projections prepared by Kagan, a media research group within S&P Global Market Intelligence, and often are revised annually, even for previous years. Displayed numbers indicate most recent updates. Beginning in 2017, Kagan’s network economics methodology accounts for subscribers and revenue from virtual multichannel services.

Source: Estimates and projections by Kagan, a media research group within S&P Global Market Intelligence.

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Find out more

This fact sheet was compiled by Research Assistant Sarah Naseer.

Read the methodology.

Pew Research Center is a subsidiary of The Pew Charitable Trusts, its primary funder. This is the latest analysis in Pew Research Center’s ongoing investigation of the state of news, information and journalism in the digital age, a research program funded by The Pew Charitable Trusts, with generous support from the John S. and James L. Knight Foundation.

Find more in-depth explorations of cable news by following the links below: