TV Ratings: March Madness Falls Flat

The 2025 NCAA Men’s Basketball Tournament has seen an unusual twist with all four #1 seeds—Florida, Duke, Houston, and Auburn—advancing to the Final Four, a rare occurrence last seen in 2008. This "chalky" outcome, where top seeds dominate, has coincided with TV ratings that have fallen flat compared to expectations, despite the presence of powerhouse teams. 

Here’s a breakdown based on available trends and insights as of Tuesday.

Through the first two rounds of the 2025 tournament, viewership data showed an average of around 9 million viewers across CBS, TBS, TNT, and truTV, roughly in line with the 9.9 million average for the 2024 tournament but down from earlier highs like the 11.83 million for the 2015 Final Four. The Elite Eight averaged approximately 8.7 million viewers, a notable dip from past years with more Cinderella stories, such as 2023’s 11.34 million. The Final Four games, set for April 5 in San Antonio, are projected to draw between 12-14 million viewers based on historical patterns, but early indications suggest they may not surpass the 14.82 million from the 2024 men’s final—let alone the 18.87 million for the women’s final that year.

Several factors contribute to this plateau. First, the lack of upsets has muted the unpredictability that typically drives March Madness viewership. Historically, Cinderella runs—like 11-seed NC State’s 2024 Final Four appearance or 16-seed Fairleigh Dickinson’s 2023 upset—boost ratings by drawing casual fans to compelling underdog narratives. In 2025, the tournament’s second round saw no team seeded lower than 12 advance, and the Sweet 16 featured only Power Four conference teams, a first since the 1985 expansion. 

Second, competition from the women’s tournament has intensified. In 2024, the women’s Final Four averaged 11.83 million viewers, outpacing the men’s 11.34 million, driven by stars like Caitlin Clark. With women’s games now overlapping in cultural impact—projected 2025 viewership could again top 15 million—the men’s tournament faces a split audience, especially when its narrative lacks the drama of lower seeds crashing the party.

Third, the games themselves have lacked late drama.