2022 Was Another Gloomy Year For Many Cable Networks

In 2022 the primetime audience delivery of ad-supported cable networks continued its downward spiral. Using data from Nielsen, Variety, which has been tracking the ratings data for several years, found in 2022 that only five ad supported networks managed to average over one million viewers over the course of the year. By comparison, in 2021 nine ad-supported cable networks exceeded one million viewers. In 2012 at the time cord-cutting and streaming video were emerging, there were at least twenty cable networks that surpassed an average audience of one million viewers.

Year-over-year double-digit declines were prevalent across most top-tier cable networks. Among the networks with the sharpest drop-offs include the Warner Bros. Discovery owned TBS and TNT. Both networks averaged fewer than one million viewers for the first time in recent memory. In 2022 TNT averaged 965,000 viewers, a decline of 12% from the previous year. Sister network TBS delivered 875,000, a drop-off of 15% from 2021.

The loss in viewership comes at a time when its debt-ridden parent company WBD has been seeking revenue growing strategies including personnel layoffs and slashing programming costs. In addition, the decline in TNT’s average audience, which exceeded two million viewers just ten years ago, may also impact WBDs decision on whether to renew its media rights agreement with NBA. Negotiations could start as early as this year with the NBA reportedly looking to double or even triple the cost to televise/stream games.

Another popular general entertainment network whose ratings have been in a freefall is Comcast’s USA. In 2022 USA delivered an average audience of 738,000, a year-over-year drop-off of 13%. By comparison, ten years ago USA was the top-rated cable network averaging nearly three million viewers. Ten years ago, USA had relied on popular original scripted dramas. In 2022 with NBU’s decision to shut down NBC SportsNet in early January with much of the lower rated sports being shifted to USA and Peacock.

One general entertainment network that defied viewing trends was Paramount which saw an increase of 8% in audience delivery averaging 491,000 viewers for the year. The ratings boost was driven by Yellowstone, one of the few successful original scripted entertainment programs on cable.

Other long-time popular cable networks also reported year-over-year double-digit declines in viewing. HGTV delivered 1.08 million viewers (-13%). The History Channel averaged 836,000 viewers (-10%), the network had averaged over two million viewers in 2012. Discovery Channel averaged 821,000 viewers (-11%), Bravo averaged 595,000 viewers (-16%), Lifetime averaged 589,000 viewers a decline of 15%, Investigation Discovery averaged 566,000 (-12%), A&E averaged 508,000 (-10%), Hallmark Movies & Mysteries averaged 492,000 viewers (-15%), SyFy averaged 359,000 viewers (-17%), Freeform averaged 301,000 viewers (-32%), MTV 288,000 viewers (-28%) and Nick-at-Nite 283,000 viewers (-21%).

With the midterm elections, January 6 hearings, Russia’s invasion of Ukraine, the economy and Roe vs. Wade being overturned, 2022 was another newsworthy year. Nonetheless, the ratings of news networks were either flat or down notably from 2021. Once again, Fox News Channel was cable’s top-rated network and at 2.37 million was the only channel to average over two million primetime viewers for the year. Fox News Channel was also the only major news network that kept their weeknight primetime lineup intact for the entire year.

While Comcast’s MSNBC was one of only a handful of cable networks to average over one million primetime viewers, its average audience of 1.20 million viewers, a sharp -22% decline from 2022. In mid-August Rachel Maddow the host of MSNBC’s top rated The Rachel Maddow Show cutback her on-air hours from weeknights to just Mondays enabling her to work on other projects. In addition, earlier in 2022 Maddow had gone on hiatus, impacting ratings.

Under new ownership from WBDs, CNN averaged 735,000 primetime viewers for the year, a whopping -34% decline from 2021. Similar to MSNBC, the networks switched anchor chairs at 9 p.m. with the firing of Chris Cuomo in late December 2021, the network has not named a permanent host for the time period. Also, Don Lemon the 10 p.m. anchor moved to be a co-host of CNN’s revamped early morning show which debuted on November 1. In addition, WBD had jettisoned streamer CNN+ within one month of its launch in April.

In 2022, Disney’s ESPN was the second most watched cable network in primetime averaging 1.88 million viewers, a year-over-year increase of 14%. ESPN2 reported an increase of 8% in 2022 averaged 335,000 viewers, an indication of live premium sports continued popularity in the wake of video fragmentation.

Many other top-tier cable networks reported a loss in audience when 2022 id compared to 2021. The Hallmark Channel average audience dropped -9% to 1.03 million. Both TLC and Food Network had year-over-year declines of 6% averaging 971,000 and 779,000 viewers respectively. Both AMC and FX, which had for years aired some of cable’s most popular and critically acclaimed scripted entertainment programs also reported slight losses in average audience. AMC averaged 468,000 viewers for the year (-8%). In 2022 FX averaged 462,000 viewers (-9%). Back in 2012 FX had averaged 1.44 million viewers and AMC 1.20 million viewers.

A handful of cable networks defied gravity and actually grew their audience. There was no bigger gainer than Reelz which more than doubled (+107%) its average audience to 252,000. FXX reported a gain of 23% averaging 246,000 viewers for 2022. Oxygen grew by +10% averaging 331,000 viewers. Nick-at-Nite’s average audience was flat compared to 2021 averaging 521,000 viewers.

For years cable television had been a strong and reliable revenue source for their parent companies, with dollars coming from subscriber fees and advertisers. With cord cutting and the continuing decline in viewers, both revenue supplies have been drying up. The revenue loss comes at a time when stock prices of media companies such as Disney and WBD are plummeting as viewers shift from linear TV to streaming video. The trendlines are clear, despite financial growing pains, streaming video attracts more viewers than cable television. Media owners will continue to prioritize streaming over cable TV in 2023 and beyond. As a result, there will be the continuing erosion of cable audiences with more cable networks shutting down as revenue vanishes.