Viewers continue to flee CNN and other networks owned by Warner Bros. Discovery in droves, pushing down advertising revenue in what has become a non-stop free fall for the cable TV industry.
Warner Bros. Discovery saw its TV advertising revenue plunge by 11 percent during the most recent quarter, leading the Hollywood media giant to miss its earnings targets. The news sent its stock tumbling close to 4 percent in pre-market trading Thursday.
Executives blamed the collapse in advertising primarily on “audience declines in domestic general entertainment and news networks, as well as the soft linear advertising market in the U.S. and Latin America.”
CNN continues to trail far behind Fox News and MSNBC in ratings, drawing just 462,000 in total day viewers for March, down 4 percent from the previous month, according to an Adweek report. For March, there were no CNN shows in…
