Is CNN losing money? It’s the question that seems to pop up every time a new ratings report drops or a high-profile anchor gets the boot. If you scroll through social media, the narrative feels pretty set in stone: the network is a "sinking ship" or "hemorrhaging cash."
But the reality is way more complicated than a simple yes or no.
Honestly, if you look at the raw balance sheets of Warner Bros. Discovery (WBD), the parent company, you’ll see a media giant grappling with billions in debt. But CNN itself? That's a different beast. For decades, CNN has been a massive "cash cow," often pulling in over $1 billion in profit annually. However, the world changed. Cable "cord-cutting" turned from a trickle into a flood, and the old way of making money—getting paid by cable providers for every house that has the channel—is drying up fast.
The Reality of CNN's Profits in 2025 and 2026
To understand if CNN is "losing money," you have to separate revenue from profit.
In the fiscal year 2024, Warner Bros. Discovery reported a staggering net loss of $11.3 billion. That sounds catastrophic. But wait—most of that wasn't because CNN didn't sell enough ads. It was largely due to a $9.1 billion non-cash "goodwill impairment" charge. Basically, the company had to admit on paper that its traditional TV networks aren't worth what they used to be.
CNN is still profitable, but the "margin" is shrinking.
Think of it like this: if you used to make $1,000 a week and now you make $600, you’re still "making money," but you’re definitely feeling the squeeze. In 2025, CNN’s linear (traditional TV) advertising revenue dropped by double digits. Why? Because ratings hit historic lows. In May 2025, CNN’s primetime audience averaged only about 426,000 viewers. For a global news leader, those are tough numbers to swallow.
Why the "Losing Money" Narrative Sticks
- The Ratings Slump: Post-2024 election cycles usually see a "news fatigue" drop, but CNN’s decline has been steeper than its rivals.
- The Max Integration: Much of CNN's value is being shifted into the Max streaming service (CNN Max), making it harder to see exactly how much money the "news" part is making on its own.
- Cost-Cutting: You don’t lay off 100 people (as they did in July 2024) or another 200 in 2025 if everything is coming up roses.
Mark Thompson’s "New York Times" Playbook
Enter Mark Thompson. He’s the guy who took the helm as CEO after the Chris Licht era ended in a bit of a fireball. Thompson is the architect who famously saved The New York Times by pivoting it toward digital subscriptions (think Cooking, Games, and Wirecutter).
His plan for CNN is basically a "copy-paste" of that success.
Instead of just relying on people watching Anderson Cooper at 8:00 PM, Thompson wants you to pay for a CNN digital subscription. They finally launched this in late 2024. By early 2026, the strategy has become clear: CNN isn't just a news channel anymore; it’s trying to be a lifestyle brand. They are doubling down on "news you can use"—things like health, wellness, and travel.
"Business and tech are news," Thompson told staff. "Climate and weather are news."
This shift is expensive. It requires hiring engineers and product designers instead of just cameramen and producers. This is why some people think CNN is "losing money"—they are spending a fortune to build a future that doesn't rely on a cable box.
The Cable Trap: Why Revenue is Dropping
For years, CNN lived on "carriage fees." Every time you paid your cable bill, a couple of bucks went straight to CNN, whether you watched it or not.
That "passive income" is dying.
In 2025, cable TV network revenue for WBD dropped by a massive 22% in some quarters. When people cancel Comcast or Spectrum, CNN loses that guaranteed fee. This is the "hole" they are trying to plug with digital ads and subscriptions.
The Financial Balancing Act
The network is currently "trending ahead" of its 2025 profit goals, according to internal memos. That sounds like good news, right? Well, it is, but it’s mostly because they’ve been ruthless with costs. High-profile anchors like Jake Tapper and Wolf Blitzer reportedly faced pay freezes or "adjusted" contracts. When you stop spending $10 million a year on a single star, your profit looks better, even if your revenue is flat.
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Misconceptions About CNN’s "Failure"
A lot of people want CNN to fail for political reasons. This clouds the financial reality.
One big misconception is that CNN is "bankrupt." It's not. It's part of a company with $35 billion in debt, but CNN itself remains a primary source of cash for that company to pay off those debts. Another myth is that "nobody watches." While linear ratings are down, CNN.com still pulls in over 100 million unique visitors a month.
The audience is there; they just aren't sitting on a couch watching commercials for pharmaceutical drugs.
What This Means for the Future of News
If CNN can't make the transition to digital profit, the entire industry is in trouble. They are the "canary in the coal mine."
The pivot to a "bundled" digital experience—where you get news, maybe some lifestyle content, and streaming video—is the only way forward. In late 2025, CNN’s "Election Night 2025" coverage actually saw a 55% jump in digital minutes viewed. That proves the brand still has "pull" when the world is on fire.
The challenge is keeping those people around when the news is boring.
Actionable Insights for the Curious
- Watch the Subscriptions: The real indicator of CNN's health isn't the Nielsen rating anymore; it's the number of people paying for the digital "CNN Pro" or whatever they've branded their paywall this week.
- Keep an Eye on WBD Debt: CNN's fate is tied to its parent company. If WBD can't manage its $30B+ debt, it might be forced to sell CNN.
- The "Lifestyle" Shift: Expect to see less "shouting heads" and more content about how to live longer or where to vacation. That's where the ad money is moving.
CNN isn't "losing money" in the sense that it's out of cash. It’s "losing money" compared to its glory days of the 90s and 2000s. The network is currently in a high-stakes race to build a digital life raft before the cable ship completely sinks. Whether Mark Thompson can pull off a New York Times-style miracle for a TV-centric brand remains the biggest gamble in media history.
The next 12 months will likely tell the story. If the digital subscription numbers don't hit their targets by the end of 2026, the talk of "losing money" might move from a social media rumor to a hard, cold reality.