Fox News revenue is plunging, despite the fact that the President of the United States watches it incessantly and constantly tweets about it.
According to the most recent numbers from Standard Media Index, which tracks media income, cable news networks in general have taken a hit in their numbers from this time last year, but Fox News took the largest hit by far. Its revenues were down 17 percent in the month of September from the same month last year.
On average, cable news revenues were down 7 percent from last year, though the losses were much smaller for other networks, such as CNN, which only had a 1 percent drop in revenue. However, MSNBC posted gains, up 2 percent from this time last year.
Although advertisers are spending the most on 30-second spots for Fox News personalities, the costs have decreased significantly over last year, when the election made the news advertisements prime spots. Spots on Fox News during the election coverage went for as much as $31,300 last year.
What’s more, several advertisers abandoned Sean Hannity this year after he refused to back down from a conspiracy theory about Democratic National Committee worker Seth Rich, linking his death in a robbery to Wikileaks. After a Stop Hannity campaign, several advertisers withdrew from the program.