The Comcast Network Horror: Summer Ratings Plummet 49%, Advertisers Facing Major Challenges
Building upon our previous coverage (read here) of the drastic decline in traditional TV ratings during the summer, Goldman’s latest Nielsen report presents further evidence of a rapid increase in cord-cutting as audiences shift to streaming platforms. This trend has left advertisers in a difficult position, with the shrinking viewership prompting them to seek new and innovative ways to connect with consumers.
On Monday, Goldman’s analyst team, led by Michael Ng, shared some troubling data points regarding traditional TV:
“We have updated our Nielsen TV ratings tracker for our US Media coverage (DIS, CMCSA, PSKY, WBD, FOXA), which includes average commercial minute (ACM) prime time and total day ratings for both broadcast and cable networks. Our latest findings focus on the C3 cable and broadcast ratings up to the week ending August 10, 2025 (with a 14-day delay), and L3 cable ratings up to the week ending August 24, 2025.”
– Prime time commercial ratings for broadcast networks (excluding sports) have seen a 20% year-over-year decline in the third quarter of 2025.
– Overall, prime time commercial ratings have dropped by 54% for broadcast networks (including sports) and by 28% for cable networks in the third quarter of 2025.
As of August 24, cable networks have continued to experience a decline in viewership. In the third quarter of 2025, total day ratings have fallen at Disney (-11%), Paramount Skydance (-22%), Fox (-20%), Warner Bros. Discovery (-26%), AMC Networks (-34%), and Comcast (-49%).
Exhibit 1: Comcast has seen the most significant decline in viewership year-to-date at -49% in the third quarter of 2025.
Additional TV ratings data up to August 10 includes:
– Cable network primetime ratings have dropped by 28% year-over-year in the third quarter of 2025.
– Broadcast network primetime ratings have declined by 54% year-over-year in the third quarter of 2025, with significant drops at ABC (-12%), CBS (-3%), Fox (-34%), and NBC (-80%).
The larger issue at hand is the shift in consumer behavior towards streaming platforms, as highlighted by analysts from UBS in May. This transition poses a significant challenge for advertisers who have traditionally relied on TV for reaching mass audiences predictably. Advertisers now face the task of revamping their strategies and reallocating ad budgets towards streaming, digital, and alternative media platforms.
By Tyler Durden
Tue, 08/26/2025 – 22:10