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 a name change enough to sustain long-term success in an industry battling cord-cutting and shifting viewer habits? Let’s dive in.
Since dropping the MSNBC label 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,” Lazarus stated, highlighting a significant uptick in total viewers since November. This is particularly notable for a network that’s home to popular shows like Morning Joe and The Rachel Maddow Show, which have been staples since its 1996 launch. Early concerns about the name change among loyal viewers seem to have faded, with MS NOW’s most dedicated fans now tuning in for eight to nine hours weekly—a level of engagement that ranks among the highest in the TV industry.
And this is the part most people miss—while viewership is up, Versant’s financial health tells a different story. The company, which spun off from NBCUniversal earlier this year, reported a 5.3% drop in total revenue for 2025, landing at $6.69 billion. This decline is largely driven by a 5.4% fall in cable subscription revenue, a trend exacerbated by the industry-wide shift away from traditional TV. But the most alarming drop? Advertising revenue plunged from $1.73 billion in 2024 to $1.58 billion in 2025—a staggering decline that raises questions about the network’s ability to monetize its growing audience.
Versant’s portfolio, which includes CNBC, the Golf Channel, and USA Network, isn’t immune to these pressures. Even its stock price reflects the struggle, down 27% since the start of the year. Yet, Lazarus remains optimistic, emphasizing the enduring appeal of live news, sports, and premium entertainment, which he says account for 60% of viewership. “These programs 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, projecting between $6.15 billion and $6.4 billion. But with the looming merger of Paramount Skydance and Warner Bros. Discovery reshaping the media landscape, one has to wonder: Is Versant’s strategy bold enough to compete in this new era? Lazarus insists their plan to operate as an independent company is solid, but only time will tell.
What do you think? Is MS NOW’s viewership boom a sign of resilience, or is Versant’s revenue decline a red flag for the future? Share your thoughts in the comments—this debate is far from over.
