CNN's revenue has dropped by approximately $400 million since 2021, falling from $2.2 billion in 2021 to $2 billion in 2022 and $1.8 billion in 2023—an 18% decline over three years.
According to The Hollywood Reporter, this information comes from financial disclosures revealed during a recent defamation trial involving Warner Bros. Discovery, CNN's parent company.
The network's valuation has also been halved, plummeting from $4.4 billion in 2021 to $2.3 billion in 2023—a 47.7% decrease. Net income fluctuated from $600 million in 2021 to $300 million in 2022 and back up to $400 million in 2023, while the network remains profitable despite the challenges.
These declines reflect broader pressures on traditional cable news: falling viewership, cord-cutting that erodes subscriber fees, sharp drops in advertising revenue (down nearly 40% in early 2023 compared to the prior year), audience shifts to streaming and social media, and competition from partisan alternatives.
Projections show stabilization ahead: revenue is expected to remain at $1.8 billion in 2026, then rise gradually to $1.9 billion in 2027, $2 billion in 2028, and return to $2.2 billion by 2030. Adjusted EBITDA is forecasted at around $600 million in 2026, dipping to $500 million in 2027, then holding at $600 million through 2030, with growth partly driven by emerging digital subscriptions and streaming reaching $600 million by 2030.
This financial trajectory highlights industry-wide shifts in media consumption, as legacy cable outlets adapt to irreversible changes in how audiences access news.