We continue to be bewildered by FOX Business’s strategy.
First, there is the apparent conceit that there is a vast audience of casual business viewers who don’t want to watch the geeky Bloomberg or ESPN-like CNBC. By captivating this “mid-market” audience, the theory goes, FOX will grab a toehold and then shove its competitors into the small high end of the market, the way it did in general news. FOX is embracing this strategy because it worked for FOX News. But the same “mid-market” that cares about murders, car crashes, and fair and balanced politics couldn’t care less about business.
And then there is the misguided anti-Cramer campaign. Two years ago, when people still watched Cramer because they thought he gave good investment advice, bashing him would have been startling and controversial (and, therefore, a smart tactic). Now, if there is still anyone on the planet who watches Cramer for his investment advice, those folks will soon be rendered so poor as to be worthless to advertisers.
Cramer is an entertainer, and he’s a brilliant one. He’s also a brilliant market commentator. The combination of those two talents have turned him into a gold mine for CNBC and an international celebrity.
One part of Cramer’s charm, moreover, is the joy he takes in groveling for forgiveness about his latest blown call (he makes plenty of good ones, too–as anyone would who made a thousand hyperbolic predictions a day). Pointing out that Cramer often blows viewers up, therefore, is like pointing out that the sky is blue. Unlike Cramer, and unlike most of what FOX News does, it’s boring.
And now FOX has sent out a holiday card portraying Cramer as The Grinch. Does FOX understand that everyone loves the Grinch? He’s the star of the show, for goodness sake. A funny loveable freak who makes a mistake, acknowledges the error, and has a heart that suddenly grows two sizes too big.
We assume Cramer has already blown the card up to mural size and hung it on his wall.
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