Is Fox Business Another CNNfn?

Fox Business Network has been on air for nearly two years now, and the trickle of leaked viewing vigures doesn't make good reading for the executives at News Corp Towers.  With availability in around 40 million homes, but an average daily audience of just 21,000 it really can't be attracting a great deal in revenues, and surely can't therefore meet its break even target of 2010.

FBN has always positioned itself and promoted itself in the "Wall Street to Main Street" arena, trying to make itself appealing to audiences who may not understand all of the technical financial speak regularly bounded about over on CNBC, the clear market leader in the Business News sector.  The biggest problem here, is that after the internet bubble burst in the early 2000's, its the wall street to main street target that CNNfn went for.  Ultimately, CNNfn failed, forcing the closure of the network after 7 years on air.

What makes things a little worse on paper for FBN, is that CNNfn was infact marginally profitable, and attracted a far larger audience than what FBN has managed to muster in its 24 months on the air.  It also seems unlikely that many of the high-worth targeting advertisers will buy the story that CNBC use, which is that workplaces and gyms, where most people watch them, aren't rated by Neilsen.  An average of 21,000 viewers during the business day, just isn't going to make an appealing proposition for advertisers, fact.

Fox Business Network wanted to pit itself against CNBC and present a serious challenge in the marketplace.  This simply hasn't happened and with the increasing probability of the network's morning business programming being replaced by a simulcast of Don Imus' radio show, it appears that they have all but given up.

The real unfortunate thing here, is that I don't think Fox Business Network has what it takes to keep going for the 7 years that CNNfn did.  I expect it probably will just to save face, but it certainly isn't a viable business, and is going to continually turn in poor ratings and losses year after year.  Shame really, I was a fan of CNNfn, and I would have liked to see a real challenge at CNBC's dominance, not just in the United States, but around the world.

The real problem I think, is that Fox Business Network launched with the right idea, but were miles off with their attitude, and are now paying the price for it.

Editorial by;
Kevin Coy, Managing Editor