A bold move pays off for MS NOW, but at what cost?
MS NOW, the rebranded version of MSNBC, has seen a remarkable turnaround in viewership since its name change. The network, known for its liberal leanings and popular shows like Morning Joe and The Rachel Maddow Show, has gained momentum and attracted a dedicated audience. CEO Mark Lazarus proudly announced that MS NOW's total viewers have increased by double digits since the rebrand in the fourth quarter of the year.
But here's where it gets controversial: despite the viewer growth, MS NOW's parent company, Versant, has experienced a decline in revenue. In a year when the media industry faced challenges, Versant's total revenue for 2025 came in at $6.69 billion, a 5.3% decrease from the previous year. This decline is largely attributed to a drop in cable television subscriptions, with revenue from advertising also taking a hit, falling from $1.73 billion in 2024 to $1.58 billion in 2025.
And this is the part most people miss: the impact of the name change on viewer engagement. Lazarus revealed that MS NOW's most passionate viewers tune in for an impressive eight to nine hours per week, second only to other media giants. This highlights the power of brand loyalty and the potential for long-term success.
However, the question remains: can MS NOW's increased viewership translate into financial stability for Versant? With the company's stock price down by 27% since the beginning of the year, trading at around $33 per share, the pressure is on. Lazarus emphasizes the importance of news and sports programming, which he believes drives 60% of television viewership. He expresses satisfaction with the early returns, but the challenge lies in converting this viewer engagement into sustainable revenue.
Looking ahead to 2026, Versant is banking on advertising tied to the midterm elections and the launch of a direct-to-consumer MS NOW service to boost revenue. Lazarus remains confident in Versant's strategy, stating, "We have our plan to go as an independent company. We have a strong set of assets."
So, will MS NOW's viewer growth be enough to turn the tide for Versant? And what impact will the upcoming merger of Paramount Skydance and Warner Bros. Discovery have on the media landscape? These are questions that will shape the future of MS NOW and the broader media industry. What are your thoughts? Do you think MS NOW's strategy will pay off, or is there a better approach to navigate these challenging times?
