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CNN’s revenue took a massive dip over the last 3 years.
According to financial metrics released at CNN’s defamation trial, CNN’s revenue dropped $400 million over the last 3 years.
CNN brought in $2.2 billion in 2021, $2 billion in 2022 and $1.8 billion in 2023.
CNN’s revenue tanked roughly $400 million in three years, according to financial metrics shared at the network’s defamation trial on Friday.
During the case, which concluded Friday, awarding Navy veteran Zachary Young $5 million in damages, a forensic economist revealed that the ratings-challenged network brought in roughly $2.2 billion in revenue in 2021, $2 billion in revenue in 2022 and $1.8 billion in 2023.
The decline represents a $400 million or 18% drop over three years, and provided a rare look into the company’s financials, Mediaite reported.
The economist Robert Johnson, who dug into the tax documents in order to determine what punitive damages should be awarded to Young, revealed that CNN still boasted net income of $600 million in 2021, $300 million in profit in 2022 and $400 million in 2023.