MS NOW's Rebranding Strategy: A Double-Edged Sword
The US's largest liberal-leaning network, MS NOW, has experienced a surge in viewership since its rebranding from MSNBC, according to the company's CEO, Mark Lazarus. The network, home to popular shows like Morning Joe and The Rachel Maddow Show, has seen double-digit growth in total viewers since the rebrand in the fourth quarter of 2025. However, this success comes with a trade-off: a decline in revenue.
Despite the positive viewership trends, Versant, the parent company of MS NOW, reported a 5.3% decrease in total revenue for 2025, amounting to $6.69 billion. This decline is attributed to the industry-wide pressures from cord-cutting, with cable TV subscription revenue dropping by 5.4% from 2024 to 2025. Interestingly, the company's CEO, Lazarus, highlights the network's strong engagement, with passionate viewers watching an impressive 8-9 hours per week, second only to the entire media TV landscape.
The financial report reveals a significant year-over-year decline in advertising revenue, falling from $1.73 billion in 2024 to $1.58 billion in 2025. This trend is further emphasized when considering the last three months of 2025, where revenue was 6.5% lower than the final quarter of 2024. Despite these challenges, Versant's net income for 2025 stood at $930 million.
Looking ahead, the company is optimistic about its future prospects. For 2026, it anticipates revenue growth through advertising tied to midterm elections and the launch of a direct-to-consumer MS NOW service. However, the recent merger of Paramount Skydance and Warner Bros. Discovery, which was initially planned for a separate company, has not altered Versant's strategy. The CEO reassures that the company is well-positioned with its strong asset portfolio, aiming to operate independently.
