How FBN's Programming Strategy Is Reshaping Cable Business News: A February 2023 Data Dive

The cable business news landscape witnessed a significant shift in February 2023, with FOX Business Network (FBN) consolidating its competitive advantage over CNBC across multiple time slots and demographics, according to Nielsen Media Research ratings.

The Consistency Play: Market Hours Domination

FOX Business Network’s core market programming maintained steady viewer engagement throughout February. During Market Hours (9 AM-4 PM/ET), FBN captured 210,000 total viewers against CNBC’s 197,000—a 7% edge that underscores the network’s growing influence during critical trading windows when institutional and retail investors are most active.

The Business Day block (9:30 AM-5 PM/ET) told a similar story: FBN drew 218,000 total viewers compared to CNBC’s 196,000. While the margin appears modest, the consistency of outperformance across overlapping time slots suggests structural advantages in FBN’s talent or programming approach.

Breakout Performers Leading the Ratings Charge

Several signature programs emerged as clear winners in the competitive ratings battle. Kudlow, anchored during weekday afternoons at 4 PM/ET, completed its first full year as the top business program on cable with 299,000 total viewers—50% ahead of CNBC’s Closing Bell (200,000 viewers). This represents the 17th consecutive month of outperformance.

Varney & Co., FBN’s morning market analysis show airing weekdays 9 AM-12 PM/ET, followed closely with 282,000 total viewers, besting CNBC’s Squawk on the Street/TechCheck by 39%.

The Claman Countdown, hosted by Liz Claman and airing weekdays at 3 PM/ET, drew 162,000 viewers in the advertiser-valuable 25-54 demographic. The younger Liz Claman-fronted program has positioned itself as a modern counterpoint to legacy business television formats, capturing both established investors and emerging market participants.

The Evening Strategy and Post-Market Momentum

The Evening Edit, hosted by Elizabeth MacDonald, demonstrated particular strength in after-hours coverage. The program averaged 209,000 total viewers in February—its sixth consecutive month of outperforming CNBC’s corresponding slot—and marked FBN’s highest-rated 5 PM/ET performance since January 2021. This programming block pulled in 172,000 viewers for CNBC in the same timeslot, underscoring FBN’s evening advantage.

FBN’s newer entry, The Bottom Line, launched with strong comparative metrics, posting a 42% viewer advantage over CNBC’s Mad Money/CNBC Special Report pairing (180,000 P2+ versus 127,000 P2+).

The Affluent Audience Moat

Among viewers aged 25-54 in affluent households—a critical segment for premium advertising—FBN secured eight of the top cable news programs. The roster included Making Money with Charles Payne ($155,000), CAVUTO: Coast to Coast ($153,300), Wall Street Journal at Large ($151,000), Varney & Co. ($150,400), Maria Bartiromo’s Wall Street ($147,000), The Claman Countdown ($146,700), Kudlow ($137,100), and The Big Money Show ($136,400).

This demographic concentration suggests FBN has successfully positioned itself as the preferred network for higher-income viewers seeking market-focused content—a critical advantage for both audience retention and advertiser appeal.

Beyond Weekdays: Weekend Momentum

FBN’s weekend programming also showed strength. Barron’s Roundtable, airing Saturdays from 10:00-10:30 AM/ET, posted its highest-rated month ever with 88,000 P2+ viewers, signaling sustained audience interest across the full weekly schedule.

The Bigger Picture

The February 2023 data reflects a sustained competitive advantage for FOX Business Network driven by consistent on-air talent, strategic time slot positioning, and programming that resonates with economically engaged viewers. Whether this represents a temporary surge or a permanent shift in cable business news consumption remains a question for coming months.