On The Day The NYSE Glitched, Fox Business Got Crushed By CNBC

Neil Cavuto
Neil Cavuto

Fox News has regularly dominated cable news for a decade now. Its special event broadcasts – state of the union, election night – sometimes come close to broadcast numbers. But its sister network, launched 8 years ago, is still stuck in the sewer.

Yesterday when the NYSE seized up and trading went offline four hours, people turned to business news channels for details. But they weren’t tuning in to Fox Business. Check this out.

Fox Business pulled in 84,000 viewers for the total day, 21,000 in the key 25-54 demographic.  It was their highest rated day of programming ever.

But compared to CNBC it wasn’t anything to sneeze at. CNBC had 266,000 viewers for the whole day, 96,000 in the key demo.

I point this out because I have never understood the logic behind Fox Business. When they launched the claim was that the network would be more right wing than CNBC. But CNBC is plenty right wing. That network has never seen an idea that tilts things in favor of the uber-rich that it didn’t champion. And when it comes to actionable business news for trader types, my assumption is those guys would rather accurate, fast information over news with some right-wing slant.

Fox Business has not gained the sort of traction Fox News did, because while I find Fox a force for evil in the world, at least you can make a business case for its existence — to cater to right wing audiences. On the other hand with Fox Business — what’s the point? And so far the numbers still seem to bear that out.