For the first time in its history, FOX Business Network (FBN) is ending the year ahead of CNBC across every major viewership category, marking a significant shift in the cable business news landscape.
According to new data from Nielsen Media Research, FBN secured double-digit leads over its rival in business day, market hours, and total day viewers for 2025. While Fox celebrated a year of growth, CNBC faced a stark downturn, recording its lowest-rated year for primetime viewership since 1992.
FBN’s momentum was anchored by its powerhouse lineup, with Kudlow and Varney & Co. finishing as the two most-watched business programs on television for the fourth year in a row.
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Larry Kudlow’s eponymous 4 p.m. program averaged 290,000 viewers, outpacing CNBC’s Closing Bell by a massive 72% margin. In the mornings, Stuart Varney’s Varney & Co. drew 276,000 viewers from 9 a.m. to 12 p.m., beating CNBC’s Squawk on the Street and Money Movers by 32%.
“FOX Business Network has become the destination for top CEOs, financial experts, and key officials throughout Washington,” said FOX News Media President and Executive Editor Jay Wallace. “Our best-in-class team is the reason why we are the only business network to see year-over-year growth and an historic win over CNBC.”
The Nielsen breakdown paints a clear picture of the disparity between the two networks this year:
- Business Day: FBN averaged 227,000 viewers, a 20% lead over CNBC.
- Market Hours: FBN drew 221,000 viewers, holding a 14% advantage.
- Total Day: FBN secured 140,000 viewers, 17% higher than CNBC.
CNBC’s struggles were most pronounced in primetime, where the network managed just 113,000 total viewers.
Beyond the top two spots, Fox Business claimed five of the top 10 business programs in total viewers. Mornings with Maria, anchored by Maria Bartiromo, defeated Squawk Box by 16% to notch its third consecutive yearly win.
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The network’s dominance extended into the evening hours as well. The Evening Edit beat CNBC’s Fast Money by 36%, while The Bottom Line outpaced Jim Cramer’s Mad Money by 32%. On Fridays, Maria Bartiromo’s Wall Street delivered a 42% lead over its competition.
The data also highlighted the demographic reach of FBN’s audience. Five of its shows—including Varney & Co. and The Claman Countdown—ranked among the top 15 most affluent programs in cable news, with an average viewer income of nearly $141,400.
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