If cable news networks have learned one thing over the last ten years, it is that covering Donald Trump is ratings gold.
Whether it was coverage of him as a candidate or as President, cable news networks have devoted a ton of time to Trump over the years to great success.
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The 47th President of the United States is such a polarizing figure; most people either love him or love to hate him.
In November 2024, he became the first Republican since George W. Bush in 2004 to win the popular vote, with his 77.3 million besting Kamala Harris’ 75 million votes.
The 24-hour cable news cycle is dominated by three big-name players: CNN, MSNBC, and Fox News.
While the two former networks are staunchly anti-Trump, the latter is staunchly on the opposite end of the political spectrum.
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So it is only right that the network that has backed his ascent so religiously reaps the benefits of his recent electoral success.
Fox News ratings are soaring in 2025 thanks to President Trump.
Andrew Harnik/Getty Images
Fox News gets big Trump bump
In a note released Tuesday, analysts at Loop Capital raised Fox Corp.’s (FOXA) price target to $62 from $60 while maintaining a buy rating.
The firm notes that the cable network’s ratings have jumped nearly 50% compared to two years ago when attacking former President Joe Biden’s agenda was the modus operandi.
It seems that defending Trump’s agenda is way more lucrative for the network. No other cable news network has seen a ratings bump as pronounced as this.
Loop Capital says Fox has added over 100 new blue-chip advertisers in recent months, which it says could signal a permanent shift in ad dollars to Fox News from general entertainment networks.
The new price target represents an 11% upside from the stock’s Tuesday closing price of $55.82 after it declined 1.4%, along with the rest of the market, on normal volume.
Fox News dominated Q1 ratings thanks to key demographic
During the first quarter of the year, Fox News averaged 3.01 million total viewers in primetime (8 p.m. to 11 p.m. ET and PT), according to Deadline, a 46% jump from a year ago.
MSNBC, its chief rival, saw an 18% year-over-year decline to 1.02 million viewers during that time period. CNN was a distant third with 558,000 average nightly viewers.
Much of Fox News’ gains can be attributed to the 63% jump in the key 25-54 demographic that advertisers covet.
MSNBC and CNN saw that demographic drop 18% and 1%, respectively.
For the whole day, Fox News averaged 1.92 million viewers during the first quarter, a 48% increase. MSNBC’s 1.18 million viewer average was a 10% decline and CNN’s 591,000 viewer average was a 2% decline.
The Five was Fox News’ top show in the quarter, averaging 4.55 million viewers.
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