Fox News’ Declining Ratings, Explained

Fox News’ October audience levels dropped 28% compared to a year ago, according to Nielsen, the Los Angeles Times reported. The network’s total day audience among viewers ages 25 to 54 fell to 98,000, the lowest monthly level in 25 years. Fox News’ total day average was 1.1 million viewers in October, down from 1.5 million a year earlier. Lachlan Murdoch, executive chairman and chief executive of Fox Corporation, told analysts on the company’s quarterly earnings call that the business is in incredibly good shape, but that the network is seeing viewer fatigue after viewers have gone through incredible news cycles over the last few years. Murdoch noted that Fox News suffers in a year-to-year comparison with a 2025 news cycle that included President Trump’s inauguration and the murder of right-wing activist Charlie Kirk, which spiked ratings last fall. Murdoch said Fox News viewers are not switching to MS NOW or CNN and are instead watching slightly less television, though both networks gained viewers in October. Fox News still holds slightly more than a 50% share of the combined audience for the three major cable news channels and remains the dominant leader over CNN and MS NOW. The ratings slide had no impact on parent company earnings, which were strong in the fiscal first quarter thanks to record-setting FIFA World Cup audience levels and robust political ad sales on its TV stations. Fox News’ audience also declined during that quarter, and the company reported lower digital news advertising revenue. Murdoch cited a similar ratings dip during the 2006 midterm campaign when George W. Bush was in his second term, noting Republican viewers were turned off by the administration’s handling of Hurricane Katrina. Fox News ratings rebounded in early 2021 and bounced back from a dip after Tucker Carlson’s ousting in April 2023. Trump has complained publicly that Fox News is not giving enough coverage to his rallies and has objected to the network giving attention to Democratic candidates. Fox is also feeling the impact of dwindling pay TV subscriptions as consumers abandon cable and satellite for streaming, though CNN and MS NOW gained viewers despite the same trend. Fox has tried to recoup cord-cutters through its direct-to-consumer streaming service Fox One, which Murdoch said is fulfilling its mission, though the company has not revealed subscription numbers.