Here’s a shocking truth: while MS NOW, the rebranded version of the US’s largest liberal-leaning network, is celebrating double-digit viewership growth, its parent company, Versant, is grappling with declining revenues. But here’s where it gets controversial—is this name change a strategic win or a costly gamble in an era of cord-cutting and shifting media landscapes? Let’s dive in.
Since dropping the MSNBC label in the fourth quarter, MS NOW has seen its audience numbers surge, according to CEO Mark Lazarus. “The momentum hasn’t just held—it’s accelerated,” Lazarus stated, highlighting a significant uptick in viewers since November. This is particularly notable given that early polling suggested viewers were wary of the change. And this is the part most people miss—despite the initial skepticism, the network’s most dedicated fans are now tuning in for an impressive eight to nine hours per week, ranking it among the most engaging platforms in the industry.
Home to popular shows like Morning Joe and The Rachel Maddow Show, MS NOW has been a staple since its 1996 launch as MSNBC. Yet, its parent company, Versant, which also owns CNBC, the Golf Channel, and USA Network, reported a 5.3% revenue decline in 2025, totaling $6.69 billion. The biggest hit? Advertising revenue plummeted from $1.73 billion in 2024 to $1.58 billion in 2025—a trend that raises questions about the sustainability of traditional media models.
Here’s the bold question: Can a name change and viewer growth offset the broader industry challenges of cord-cutting and declining ad dollars? Lazarus seems optimistic, emphasizing the enduring appeal of live news, sports, and premium entertainment, which he claims drive 60% of viewership. “These segments continue to draw large, engaged audiences and strong advertiser interest,” he assured investors.
Looking ahead, Versant is banking on the 2026 midterm elections and the launch of a direct-to-consumer MS NOW streaming service to boost revenue to between $6.15 billion and $6.4 billion. But with the company’s stock price down 27% since the start of the year, trading at just $33 per share, the road to recovery won’t be easy.
And here’s where it gets even more intriguing—when asked about the pending merger of Paramount Skydance and Warner Bros. Discovery, Lazarus remained unfazed. “We’re sticking to our plan as an independent company,” he asserted, confident in Versant’s “strong set of assets.” But is this confidence warranted, or is Versant underestimating the competitive pressures ahead?
What do you think? Is MS NOW’s viewership growth a sign of resilience, or is Versant’s revenue decline a red flag for the future of traditional media? Share your thoughts in the comments—let’s spark a debate!
