Fox News… faces several challenges after President Donald Trump leaves office. Including a potential decline in their ratings and the threat that he could start a rival media outlet. If he doesn’t, he could just keep tweeting to attack the network.
Fox News has managed to keep its position at the top as the number 1 cable news network for 18 years. That’s despite numerous challenges such as a sexual-harassment scandal, the death of founder Roger Ailes, the departure of stars Glenn Beck, Bill O’Reilly, and Megyn Kelly, and the arrival of right-leaning rivals, Newsmax and One America News Network.
It seems the news network is not going down anytime soon.
Red Seat Ventures helps build businesses for media personalities like former HLN star Nancy Grace. “They have the distribution, talent, and resources to be successful no matter who is president,” said CEO Christopher Balfe.
Axios reported on Thursday that Trump is planning to launch a subscription-based streaming platform similar to Fox Nation, which is a $6-a-month service launched two years ago.
At the same time, Trump is taking his attacks against the network up a notch. Fox News and nearly all major media have declared Joe Biden the presidential winner, despite Trump’s steadfast rejection.
On Thursday, Trump tweeted that Fox’s daytime ratings have “completely collapsed” because the network “forgot what made them successful, what got them there.” Fox News was the biggest difference between the 2016 and 2020 elections because the network forgot its “Golden Goose,” he said.
Shares of the news network’s parent company (Fox) went down by more than 6% on Thursday amid Trump’s attacks and the speculation that he might back or launch a rival news service.
Newsmax, which was founded by Christopher Ruddy — Trump’s ally, still hasn’t declared Biden the president-elect and has seen more viewers recently because of this.
On Thursday, Ruddy tweeted that Trump called him and “congratulated Newsmax on our rating explosion.” Trump is “watching Newsmax,” he said, “and also wants every vote counted!”
According to Jon Klein, a former president of CNN’s US operations and current co-chairman of the streaming company Tapp Media LLC, Fox would do best by trying to patch things up with Trump quickly.
“Many Fox News viewers adore President Trump,” Klein said. “If Trump undertook a concerted ongoing anti-Fox News campaign, that would have a real impact on Fox’s numbers…because those Trump loyalists will do as they’re told.”
“Everything for him is about the negotiation,” added Klein. “Once the dust settles, I’m sure he will make the best deal he can, whether it’s starting his own company or getting paid a lot of money to appear on someone’s else air.”
In response to Trump’s attacks on Twitter Thursday, Fox News cited Nielsen data and said that its daytime audience has gone up by 62% — averaging 2.7 million viewers for the seven days through Wednesday, from the same period last year. The news network was also the most-watched on election night, with an audience of 14.1 million.
“I think a lot of people would sign up for a $5 or $6 a month subscription service to watch his show and support him,” CEO Balfe said. “I don’t think it’s a Fox News channel competitor, but it could be a very successful streaming channel.”