Ratings-starved CNN’s revenue fell roughly $400 million in three years: court records

CNN’s revenue hit roughly $400 million in three years, according to financial metrics shared in the network’s defamation trial Friday.

During the case, which ended Friday in awarding Navy veteran Zachary Young $5 million in damages, a forensic economist found that estimates challenged the network to bring in roughly $2.2 billion in revenue in 2021, $2 billion in revenue in 2022 and $1.8 billion in 2023.

The decline represents a drop of $400 million or 18% over three years and provided a rare look at the company’s finances, Mediaite reported.

Economist Robert Johnson, who dug through tax documents to determine what punitive damages should be awarded to Young, found that CNN still boasted net income of $600 million in 2021, $300 million in profit in 2022 and $400 million in 2023.

The Warner Bros.-owned network. Discovery had a cash flow gain of $424.9 million in 2023.

Fox News’ Joseph Wulfsuhn posted screenshots on X of the slides Young’s lawyers showed jurors Friday during the economists’ testimony.

Despite its huge viewership, CNN remains extremely profitable, tax filings revealed, but also showed the network’s net worth halved between 2021 and 2023, according to The Wrap.

Her net worth went from $4.4 billion in 2021 to $2.3 billion in 2023 — a 47.7% drop — according to the filings.

Johnson argued that CNN’s earnings should be used to determine Young’s punitive damages.

CNN, like many linear channels, has been plagued by declining ratings as consumers switch to cable. However, the network has experienced some of the sharpest declines as it grapples with the changing political climate and tone of its coverage.

According to Nielsen, CNN’s core ratings, which reached 685,000 in 2024, are down -62% since 2020. In the all-important 25-to-54 demo, ratings are up 72%. In total daytime, the network dropped 58% in total viewers and 71% in the demo over four years.

CNN’s finances were reported after a Florida jury on Friday found CNN defamed Young when it implied he had illegally profited from helping Afghans flee the country during a 2021 segment on “The Lead With Jake Tapper.”

The network was ordered to pay Zachary Young $5 million in defamation and unspecified punitive damages.