Debate Impact: CNN Prime Time ratings saw a 92% drop after the June 27th presidential debate between Trump and Biden.
Ratings Details: In the key 25 to 54 demographic, the rating fell 96%.
Moderated by: Dana Bash and Jake Tapper.
Viewership: Nearly 50 million viewers watched the debate; CNN generated 8.7 million viewers.
Post-Debate Drop: After the debate, CNN fell behind Fox News and MSNBC.
Weekly Ratings: For the week of June 28 to July 7, Prime Time ratings fell 93% to 500,000 total viewers, with a 97% drop in key demographic.
Analysis and Historical Comparisons
Historical Context: Two key case studies help to understand the current situation:
Wolf Blitzer: Gained popularity during the Gulf War and continued to hold an audience.
Greta Van Susteren: Became well-known during the OJ trial and retained viewership.
CNN's Strategy: Paid for exclusive debate rights but failed to maintain audience afterward. The lack of engaging talent led to viewer loss post-debate.
Talent and Content Concerns
Talent Loss: High-profile anchors like Cuomo, Lemon, and Stelter are gone.
Current Talent: Lack of star power with remaining talent, leading to low audience retention.
Pat's Commentary: CNN's challenges with retaining audience during non-debate times, and the loss of key personnel.
Viewer Behavior: Shift from TV to digital platforms like YouTube and podcasts for consuming news.
CNN's Strategic Changes
Layoffs: CEO Mark Thompson announced cutting 100 jobs.
Disbanding of Teams: CNN disbanded its Race and Equality team, which was set up following George Floyd's death in 2020.
Restructuring: Part of a larger restructuring plan, impacting around 3% of workforce, including high-profile journalists.
New Initiatives: Plans for a subscription product on CNN.com, aiming to integrate perspectives across different programming areas.
Future of CNN
Trump's Influence: Possible ratings boost if Trump wins the election, due to heightened interest in political controversy.
Digital Shift: Emphasis on adapting to digital platforms to reach a broader audience.
Upcoming Events: Promotion of private webinar on AI Revolution, by Pat. Focus on leveraging AI for business growth.
Closing Remarks
AI Webinar Details: Free webinar on AI in business scheduled for July 30th at 6 PM. Limited to 3,000 participants.