The PEW Research Center’s Project for Excellence in Journalism released its 2011 State of the News Media study, reporting revenue projections among the top cable news networks for 2010.
Considering all the networks lost viewers last year (see just how much here) you may be surprised to hear they are making more money than ever.This uptick in profit is a result of both higher subscription fees and cost-cutting measures undertaken by the networks.
Now imagine what they might have made if they didn’t lose 11% of their viewers last year.
The Study projected 2010 revenue to grow 7% at MSNBC (NASDAQ:CMCSA), 5% at CNN/HLN (NYSE:TWX), and 17% at Fox (NASDAQ:NWSA).
MSNBC (NASDAQ:CMCSA) revenue is projected to jump from $357.3 million to $382.5 million — an increase of $25.2 million.
Revenue at CNN/HLN (NYSE:TWX) was projected to increase 5% — or $56.8 million — from $1,174.8 million to $1,231.6 million.
Fox News Channel (NASDAQ:NWSA) was the big winner, earning 17% more ($219.7 million) from $1,282.4 million in 2009 to $1,502.1 million in 2010.
In addition to increased revenue, the organizations cut costs in 2010. The moves helped all three increase their earnings before tax and interest.
Operating profit at CNN/HLN (NYSE:TWX) would increase by 7%.
MSNBC (NASDAQ:CMCSA) would grow 8%.
And Fox News (NASDAQ:NWSA) by a whopping 27%.