CNN experienced a staggering 40% DROP in ad revenue this year trends now
CNN's ad revenue plunged nearly 40 percent in the first four months of 2023 from one year ago, highlighting the company's struggles under recently ousted leader Chris Licht.
From January through April 2023, advertisers spent $313 million on CNN's TV and digital outlets, down from $513 million in the same period last year, which immediately preceded Licht's appointment, according to data collected by MediaRadar.
That's a whopping 39 percent drop, far outpacing the 7 percent annual decline in ad spending that MediaRadar tracked across all digital, print and TV media for the same period, due to a general economic slowdown.
'Our data analysis suggests a significant downward trend in CNN's ad revenue during Chris Licht's tenure, reflecting substantial declines both in total spend and in the number of advertisers,' MediaRadar CEO Todd Krizelman said in a statement.
The analysis found that CNN experienced a particularly sharp decrease in April, with ad revenue plunging 48 percent from a year ago, to $80 million.
CNN's ad revenue plunged nearly 40 percent in the first four months of 2023 from one year ago, highlighting the company's struggles under recently ousted leader Chris Licht
From January through April 2023, advertisers spent $313 million on CNN's TV and digital outlets, down from $513 million in the same period last year, according to MediaRadar
According to MediaRadar, the number of CNN advertisers also fell 23 percent in the first four months of 2023 from one year ago, dropping to 2,100 companies from 2,700.
Only 29 percent of the advertisers who worked with the network last year returned in 2023, according to the report.
CNN declined to immediately comment when reached by DailyMail.com on Thursday afternoon.
However, a network insider noted that because interest in news ran extremely high following Russia's February 2022 invasion of Ukraine, comparing ratings or revenue from that period with the following year is an 'apples to oranges' comparison.
Licht was hired to run CNN last April by David Zaslav, the CEO of parent company Warner Bros. Discovery, who
