Here’s a shocking truth: even as MS NOW, the rebranded version of America’s largest liberal-leaning network, celebrates double-digit viewership growth, its parent company’s revenue is taking a hit. But here’s where it gets controversial—is this a sign of success or a symptom of deeper industry struggles? Let’s dive in.
Since dropping the MSNBC name in favor of MS NOW late last year, the network has seen a surge in viewers, according to CEO Mark Lazarus. “The momentum hasn’t just held—it’s accelerated, with double-digit growth in total viewers since November,” Lazarus stated. This is no small feat for a network that’s been a staple of liberal media since 1996, hosting popular shows like Morning Joe and The Rachel Maddow Show. Early concerns about the name change seem to have been misplaced, as the most dedicated viewers now tune in for eight to nine hours weekly—a level of engagement that ranks second highest across all TV media.
And this is the part most people miss—while MS NOW’s viewership is booming, its parent company, Versant, reported a 5.3% decline in total revenue for 2025, dropping to $6.69 billion. Versant, which spun off from NBCUniversal earlier this year, oversees a portfolio that includes CNBC, the Golf Channel, and USA Network. The decline is largely driven by a 5.4% drop in cable subscription revenue, a trend exacerbated by the rise of cord-cutting. Advertising revenue took an even bigger hit, falling from $1.73 billion in 2024 to $1.58 billion in 2025—a staggering 8.7% decline.
Despite these financial headwinds, Lazarus remains optimistic. He credits live news, sports, and premium entertainment for driving 60% of the company’s viewership and attracting advertisers. “Our programming continues to resonate with large, engaged audiences,” 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.
Here’s the bold question—can MS NOW’s viewership growth offset the broader industry challenges facing Versant? Or is this a classic case of winning the battle but losing the war? Lazarus insists Versant’s strategy remains unchanged, even as competitors like Paramount Skydance and Warner Bros. Discovery explore mergers. “We’re committed to our path as an independent company,” he said. “We have a strong set of assets.”
But as Versant’s stock price dips 27% since the start of the year, hovering around $33 per share, one can’t help but wonder: Is this a temporary setback or a harbinger of tougher times ahead? What do you think? Is MS NOW’s success enough to sustain Versant, or are the challenges too steep? Let’s debate in the comments!
