MSNBC is expanding its engagement with viewers beyond traditional television broadcasts. Recently, Rashida Jones, the president of the NBCUniversal-backed network, observed a diverse audience at a summit at the Brooklyn Academy of Music. Attendees traveled from various locations, including London and Hawaii, to engage with prominent MSNBC figures like Rachel Maddow, Katy Tur, Joy Reid, Jen Psaki, and Chris Hayes at an event attended by around 4,000 paying guests discussing the upcoming election and national politics.
Jones highlights the importance of understanding that MSNBC’s audience seeks more than just televised content. She emphasized a commitment to bringing the MSNBC brand directly to audiences in diverse locations.
The network has already experimented with live events, such as an exclusive gathering in Washington featuring Psaki, Steve Kornacki, and Stephanie Ruhle, as well as events in Chicago during the Democratic National Convention where notable figures were interviewed.
Given the projected decline in subscribers and affiliate revenue for major cable news networks, including MSNBC, Fox News, and CNN, there is a strategic incentive to explore live events as alternative revenue channels. Projections suggest MSNBC’s subscriber count may drop nearly 6% this year, while affiliate revenue is expected to fall about 4% in 2024.
While event revenue is not anticipated to be the primary financial focus, it could help mitigate losses. The recent summit is seen by MSNBC as a promising starting point for future live events, according to Rebecca Kutler, the network’s senior vice president of content strategy. She plans to develop both intimate sponsored events and larger revenue-generating concepts, including opportunities for attendees to view projects from MSNBC teams and engage with the growing audio content.
Kutler was motivated by discussions with an attendee from Florida, highlighting interest in hosting events for supporters in that region. The interest from attendees outside anticipated areas exceeded expectations, demonstrating a broader reach than initially planned.
Other networks have similarly ventured into live event formats. CNN has hosted “Citizen” events featuring key public figures discussing significant issues, while Fox News has organized its “Patriot Awards,” which included an interactive meet-and-greet.
Jones believes that live events can facilitate a meaningful dialogue between MSNBC personalities and their audience, allowing for more personal engagement that is often missing from broadcast formats.