There’s only one thing financial TV networks like better than a bull market, and that’s a market crisis. Sure, if the crisis leads to an honest-to-God bear market, the networks are screwed, because eventually viewers get so depressed about all the money they’re losing that the stop playing the markets (and watching market TV). But those first gut-wrenching lurches from the top of a rip-roaring bull market? Pure gold.
Thus, its no surprise that CNBC has had its best August ratings in five years. Crain’s reports:
CNBC’s business day, which runs from 5 a.m. to 7 p.m., averaged 87,000 viewers in the channel’s target audience of adults 25 to 54 years old, according to Nielsen Media Research. That number marked a 50% improvement over last August. All of the daytime shows drew their biggest audiences since at least 2003, according to the channel. Erin Burnett’s “Street Signs,” at 2 p.m., had the best August numbers in that time slot in nine years. Jim Cramer’s “Mad Money” had its best August ever.
Crain’s also reports that CNBC had revenue of $537 million and cash flow of $306 million last year, according to estimates from SNL Kagan.