Adweek — October 08, 2017

BARTIROMO: MATTHEW EISMAN/GETTY IMAGES

WHITEBOARD > REINVENTING THE BUSINESS MODEL

Murdoch’s Bet

On Business

News Pays Off

In 1996 Rupert Murdoch had an idea: he was going to launch a TV news

network to take on CNN. Five years after it went on the air, Fox News was

regularly beating CNN in the Nielsen ratings. And still does.

In 2007, when Murdoch decided to create a TV business network to take

on CNBC, few thought that lightning could strike twice. The fi eld was getting

increasingly crowded. Digitally distributed content was the future. Besides, who

needs another business TV channel?

Murdoch spent millions to build Fox Business Network, wooing big-name

talent from competitors and securing cable distribution. “I was always telling

Rupert ‘don’t do it, don’t do it,’” the late Roger Ailes told Adweek in 2015.

As it celebrates its 10th anniversary this week, FBN is on top of the business TV

news ratings race among total viewers. With heavy emphasis on the presidential

election and fi rst months of the Trump administration, FBN has been the most-

watched business news channel for the last year. (CNBC, however, continues to

lead among younger viewers, which matters most to advertisers.) It also has 17

times more advertisers today than it did at launch, turning its fi rst profi t in 2011.

According to FBN anchor, svp and managing editor Neil Cavuto, it was the

November 2015 Republican presidential debate—the fi rst hosted by FBN—that

proved a critical turning point in the network’s rise to the top.

“People who knew little about us had a chance to see us,” said Cavuto. “We

were measured, focused and clear without one hint of drama.”

What has continued to make FBN stand out from its TV and digital

competitors is “perspective,” he added.

“No one connects Wall Street with Main Street the way we do,” Cavuto explained.

“All I know is far more of us pay taxes than own stock. We get both. We report both.”

Critics, meanwhile, charge that FBN’s success is due in large part to

its nonstop, mostly supportive coverage of Trump. According to a TVEyes

analysis, last week, Trump was mentioned 390 times during FBN’s program day

compared to 172 times on CNBC.

Looking ahead, a challenge for FBN—and one faced by all news channels—

is its aging audience. FBN’s average viewer is 68 years old, a year older than

CNBC’s. Network president Brian Jones said that getting younger viewers to

tune in is his No. 1 priority.

“Our content will matter regardless of the platform on which it’s

ultimately presented,” Cavuto predicted. “If what we offer remains

compelling, we always will be.”

It took nine years for

FBN to overtake

CNBC as the

most-watched

business net.

‘No one connects

Wall Street with

Main Street the

way we do. ...

We get both.

We report both.’

TA L EN T

SHOW

To make FBN

competitive,

Murdoch opened his

wallet to recruit

big-name anchors

and analysts from

other networks.

R AT IN G S

RISE

9,

2,

28,

8,

64,

11,

49,

12,

78,

13,

191,

25,

R E S U LT S

According to Nielsen

Media Research, FBN’s

ratings have quadrupled

since 2007. In business

day (9:30 a.m. - 5 p.m.

ET), the network is

up 1,369 percent

in total viewers and

up 525 percent

in the adults 25-54 demo.

N E I L C A V U T O

FBN ANCHOR,

S V P A N D

MANAGING

EDITOR

In 2013, Maria

Bartiromo was

wooed to FBN

from CNBC.

A POPULIST MESSAGE—AND TRUMP—HAS HELPED

MAKE FBN NO. 1 IN TOTAL VIEWERS. BY CHRIS ARIENS

8 OCTOBER 9, 2017|^ ADWEEK

TOTAL VIEWERS

VIEWERS IN

25-54 DEMO

BRAND BUILDING

In the fall of 2007,

FBN began with

36 advertisers.

Today, the network has

over 600 national

advertisers.

20072009 2011 2013 2015 2017

SOURCE: NIELSEN MEDIA RESEARCH,

LIVE +SD / 2017 THROUGH 3Q

CHARLIE

GASPARINO

CNBC

L I Z

CLAMAN

CNBC

M E L I S S A

FRANCIS

CNBC

L O U

DOBBS

CNN

GERRI

WILLIS

CNN

T R I S H

REGAN

BLOOMBERG