Is mainstream media really dead? Plummeting ratings lead to major layoffs at CNN

CNN is preparing for a significant round of layoffs, affecting hundreds of employees as the network grapples with plummeting ratings. According to Daily Mail, reporter Dylan Byers wrote on Friday, “In the next few months, I’m told, CNN will implement another round of layoffs that will impact hundreds of employees across the organization.” The Daily Mail report claims the decision comes on the heels of lackluster viewer numbers during the recent election coverage with CEO Mark Thompson spearheading this overhaul.

The impending changes are expected to impact both production staff and on-air talent. Some high-profile anchors, including Anderson Cooper and Erin Burnett, who earn millions annually, are under scrutiny as the network plans to trim expenses; Daily Mail emphasized that Cooper is paid $20 million a year with Burnett following as the next highest at $6 million. Jake Tapper and Wolf Blitzer, two key figures at CNN, reportedly faced denied raises, the New York Post claims.

Amid these developments, veteran anchor Chris Wallace announced his departure from CNN just yesterday, the network reported. In an interview with The Daily Beast, Wallace simply expressed excitement about exploring new media platforms like podcasting, saying, “I have nothing but positive things to say. CNN has been very good to me.”

According to Daily Mail, since Jeff Zucker's departure and Chris Licht's tenure in 2016, the network has struggled with audience numbers, now lagging behind competitors like Fox News and MSNBC. Newsweek reported the severe decline of CNN’s ratings for the election last week, which saw a 44% decline from 2020 and a 62% decline from 2016 during primetime coverage.

A former CNN staffer described the current work environment at the network's Manhattan headquarters to Byers as fraught with "stress and high anxiety" due to the looming layoffs, Daily Mail reported.

The shift marks a significant moment for CNN, as it navigates the challenges of evolving media landscapes and viewer preferences. Both president-elect Donald Trump and Vice President Kamala Harris leaned heavily on podcast appearances during their campaigns to reach audiences. Trump, along with his vice president pick JD Vance and billionaire endorser Elon Musk, all appeared separately on The Joe Rogan Experience, the most popular podcast in the world by Joe Rogan. Harris also made an appearance on the podcast Call Her Daddy with host Alex Cooper. 

After the election results showed a clear winner, popular conservative podcaster Candace Owens announced that “mainstream media is finished,” while being featured on an Election Night panel with PBD Podcast host and Valuetainment founder Patrick Bet-David. While podcasters are reaching more and more viewers each year, only time will tell what the future of mainstream outlets like CNN will look like.