Breaking: Credit Suisse Cuts Earnings for FOX, CBS Due to Sudden and Severe Drop in NFL Ratings
The NFL has lost 3.3 million viewers in two years since players first started to sit, kneel and stretch during the national anthem.
— Jim Hoft (@gatewaypundit) October 14, 2017
After decades of American tradition of standing at attention during the National Anthem the National Football League started their own tradition last year and allowed players to kneel, sit, or stretch during the National Anthem today at professional football games.
The NFL is down 2.5 million viewers so far this year.
The latest Monday night football ratings sunk to a new season low.
Credit Suisse cut its earnings expectation for CBS and FOX due to the sudden drop in NFL ratings.
The Business Journal reported:
Television ratings for the National Football League are down 17 percent on CBS compared to last year, according to investment analysts at Credit Suisse.
That is leading the investment bank to cut its earnings expectation for CBS (NYSE: CBS), according to CNBC.
Earlier in the month, Credit Suisse noted a 7 percent drop in NFL TV rating for Fox — an arm of Twenty-First Century Fox (Nasdaq: FOX), (Nasdaq: FOXA), according to CNBC and investment website Seeking Alpha.