CNN TV digital ad revenue jumps to 39% YOY
By Felicia Nwosu
MediaRadar, an award-winning advertising intelligence platform, has published a report that revealed advertising spending in CNN’s national TV broadcasts and digital properties jumped up by 39 percent in this year’s first four months, to $312.6 million, from $515 million during the same period in 2022.
The advertising intelligence for media buyers through its insights presented an impressive performance of the brand’s advertising outing during the tenure of Chris Licht, who stepped down as its CEO recently after 13 months in the saddle.
Licht became the brand’s CEO in February 2022, and officially started in May. It was recorded that ad revenue dropped to $232.5 million in 2023’s first quarter, down 35% versus Q1 2022 per the analysis, based on a data sample spanning Jan. 1, 2022, through April 30, 2023.
With that, the report said, the average monthly ad spend across CNN through April 2023 was $78 million, down from $128 million during the same period last year.
“CNN’s 2022 ad revenue was on the upswing until May, which saw an 18% month-over-month decline, to $126 million. Subsequent months generally saw MoM declines. The exceptions were August and November, which saw increases of 22% and 23%, MoM, respectively. The number of companies advertising in CNN’s media properties in 2023’s four months declined 23%, to 2,100, from 2,700 in 2022’s first four months. Just 29% of last year’s advertisers in the period have returned this year, with 1,900 making no investment in the brand’s media properties so far this year.
It explained that advertisers declined 27% YoY in January, 23% in March and 19% in April. While in 2022’s first four months, 68 companies invested $2 million or more in CNN outlets, for a combined total of nearly $236 million. During the same period in 2023, only 17 companies down 75% versus the year-ago period invested at that level, for a total of $95 million, down 60% YoY. Major corporations such as Thumbtack, Apple, Cisco Systems and Walt Disney have all reduced their ad spend with CNN by more than 90% YoY.
MediaRadar’s data analysis noticed 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.
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