The national anthem protests in the NFL have really impacted the league. Its ratings and profits are down and even networks who cover the NFL are seriously hurting. The American people only have so much patience, and it has run out when it comes to these spoiled showboats. The boycott of the NFL is already underway and the league is getting sacked right in the wallet. Now USA Newsflash reports that the latest numbers are in for CBS Network and they are very, very bad.
You can see from the below graph that CBS was doing pretty well before the renewed protests started. People had started to forget about unemployment advocate Colin Kaepernick and were starting to get back into football.
Then the protests started back up and the ratings dived. Sorry CBS, you’re not gonna like this.
The investment firm Credit Suisse cut its third-quarter earnings-per-share estimates for CBS by a full three percent. That’s a devastating blow of lack of confidence that the NFL-broadcasting network will perform.
“We expect third-quarter network advertising to decline 3 percent (previously +1 percent), driven by soft ratings for both the summer schedule and for the start of the NFL season,” wrote Credit Suisse analyst Omar Sheikh. “With only one of the three content licensing deals we expected for the second half announced in third quarter, we also expect content licensing revenue growth to be skewed to the fourth quarter.”
Sheikh said part of the decision is driven by the fact that NFL ratings are down 17 percent from this time last year. CBS’ stock has fallen almost 11 percent since January and 3 percent in just the past month. That’s terrible news for the network.
What do you think of these earning numbers? Does it make you happy?