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By Anu Sharma. Market news. February 07, AM Market. By Latha Venkatesh. By PTI. The channel was relaunched in as the Consumer News and Business Channel CNBC , as part of a joint-venture with Cablevision.
The channel got off to a rocky start as it struggled to win a share of the audiences of the already-established Financial News Network FFN.
Overnight, CNBC more than doubled its audience to 40 million homes. There are stock market updates as well as reports on the performance of currencies and commodities aired throughout business hours.
Squawk on the Street , Power Lunch and Closing Bell are some of the most popular daily shows. After markets close, CNBC switches to a different format with very little news and more in the way of entertainment.
The runaway success of this type of programming has been the Mad Money show, which sees Jim Cramer answer calls from viewers asking for advice on investments into stocks and shares.
More recently, CNBC has also dedicated a large volume of weekend programming to sports. Golf, ice hockey, and soccer have all held prominent slots during the weekend, filling the downtime in between markets closing on Friday and reopening on Monday.
Unlike other news channels, the fortunes of CNBC are closely-tied to those of the financial markets and economy. When they perform well, CNBC tends to bring in more viewers, when recession hits, they tend to lose viewers.
That was until the crash of , when viewership actually increased during the financial turmoil of that year. In fact, a rant by Jim Kramer on the Street Signs program was so influential that it was said to have nudged the federal reserve into cutting interest rates later that year.
It was also around this time that CNBC invested more into its online resources to meet the increasing demand of viewers wanting to watch CNBC live streaming services.