Business

QVC Group will host the first ever 24/7 live shopping streams in the U.S. on social media platform TiKTok beginning Wednesday.
The move comes as QVC, which sells products through its cable TV, streaming and online platforms, has been working to turn around its business after facing significant challenges.
CEO David Rawlinson II has been tasked with the transformation — and social media is at the forefront of QVC Group’s strategy.

FILE PHOTO: Signage is displayed at the entrance to the QVC Studio Park in West Chester, Pennsylvania, U.S., June 4, 2018. 
Brendan McDermid | Reuters

QVC Group is launching the first-ever nonstop live shopping streams on TikTok in the U.S. in a bid to revive its business and broaden its audience.
Beginning Wednesday, hosts from QVC’s TV networks will also be featured on the app in addition to TikTok creators.

QVC is best known for its live shopping TV networks QVC and HSN (formerly Home Shopping Network) that once captured a large swath of viewers and consumers. It also offers streaming and online retail options. But as the company looks to broaden its audience and turn around its business, it’s shifting its focus to social media.
While live shopping on social media, namely TikTok, has exploded in China, it’s been slow to take off in the U.S. And the partnership comes as TikTok’s future in the U.S. is uncertain.
Still, the partnership announced Wednesday builds on QVC’s earlier team up with TikTok. It also gives TikTok Shop its first constant, live stream of shoppable content. QVC products have been available through the TikTok Shop since August, nearly a year after the app introduced the live, shoppable experience to its users in the U.S.
Since launching on the TikTok Shop, the company said more than 74,000 TikTok creators have featured QVC products on their shoppable videos and livestreams. Wednesday’s announcement is sure to expand that, said David Rawlinson II, president and CEO of QVC Group Inc.
“Everybody’s been talking about this being the next big thing in retail for five or 10 years but it never quite has hit,” Rawlinson said. “I think this is the start of it really hitting. And that’s the TikTok bet. That’s our bet.”

Arrows pointing outwards

QVC on TikTok.
Courtesy: QVC Group Inc.

Business revamp

QVC Group — which is part of QVC Group Inc. and controlled by media mogul John Malone — is aiming to do more than bring its longstanding business of constant live shopping from TV to social media.
The deal comes as the company recently concluded a turnaround plan, known as Project Athens, after what Rawlinson referred to as a “perfect storm” of issues.
At the height of the pandemic, QVC’s businesses saw a surge in sales and viewership, like many retailers and media companies. But the drop-off was steep as stay-at-home orders lifted and consumers started spending on live events and travel rather than retail.
QVC’s problems were then amplified. More consumers cut the cord and fled the pay TV bundle, weighing on the company’s TV networks. The retail industry also had to contend with supply chain issues and heightened competition in online shopping from the rise of Temu and others.
Things worsened for the company in December 2021, months after Rawlinson took the helm of QVC Group Inc. A deadly fire ripped through the company’s North Carolina fulfillment center. QVC lost a half a billion dollars in inventory, Rawlinson said.
“I sort of felt like I was hired to transform the company, but because of this perfect storm of events, the first job turned out to be saving the company,” Rawlinson said.
Through a series of cost-cutting measures, QVC saw its profitability improve and its debt load ease. Still, the transformation is far from complete. Rawlinson noted during a February investor call that QVC has yet to “achieve stable revenue,” and that will be its main focus moving forward.
The drop-off in TV viewership has been pronounced. When comparing 2024 to 2018, QVC’s and HSN’s main channels reached 44% and 47% fewer homes, respectively, Rawlinson said on February’s call.
Last week, the company said it would lay off about 900 employees and consolidate its operations in its West Chester, Pennsylvania, headquarters.
The partnership with TikTok comes days after the company released its annual report to shareholders, which noted its focus on social media and efforts to shift the business.
“As traditional TV declines and a mix of video platforms takes a greater share of customer attention, we must hurry our expansion beyond TV to find growth. Our strategy is to transform QVC Group into a live social shopping company,” QVC Group Inc. wrote in a letter to shareholders in March.
In the letter, QVC said it would “intensify” its efforts in social media and streaming to notch $1.5 billion in run-rate revenue from these platforms in the next three years.
“Social is just the natural evolution of what we’ve always done,” Rawlinson said.
QVC’s audience and shoppers typically skew female and over 50. Last year, CNBC reported that the company signed a deal to add USA Pickleball to its platforms to capitalize on that audience and find new avenues to transform its business.

Ticking clock

TikTok has officially launched its e-commerce service TikTok Shop in the US. 
Costfoto | Nurphoto | Getty Images

TikTok has seen explosive growth in the U.S., and the company said it has 170 million users. But its fate in the country remains unclear.
The Chinese-owned social media app is once again staring down at a deadline that could see it effectively banned on April 5, stemming from a national security law originally signed by former President Joe Biden that requires parent company ByteDance to divest its American operations.
The original deadline was Jan. 19, but President Donald Trump signed an executive order that granted ByteDance 75 more days to divest the U.S. portion of its business.
Although the future remains uncertain, creators appear to be cautiously optimistic this time around that TikTok will remain in the U.S., CNBC reported Tuesday. Trump has since said he may reduce tariffs on China in order to help move forward a deal in which ByteDance exits U.S. operations.
Even with the possibility of a ban in the U.S., Rawlinson said moving forward with the partnership on TikTok Shop was the best bet for QVC’s business.
“TikTok has a very widely penetrated user base in the U.S. We know a lot of our customers, and our future customers, are there, and we know that shopping is developing and growing very quickly in really interesting ways there,” Rawlinson said.
“So we felt like that’s the right way to try to change how shopping is done in the U.S. That’s the full calculus for us. We didn’t try to guess the future of TikTok,” he added.
— CNBC’s Jonathan Vanian contributed to this article.

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United Airlines is adding service to Vietnam and Thailand in October.
The carrier is also beginning nonstop service from San Francisco to Adelaide, Australia, in December.
It’s part of the airline’s ongoing effort to add far-flung destinations not served by its rivals.

A Boeing 787 Dreamliner operated by United Airlines takes off at Los Angeles International Airport (LAX) on January 9, 2013 in Los Angeles, California.
David McNew | Getty Images

United Airlines plans to add daily flights to Vietnam and Thailand in October, further expanding the network for the U.S. carrier that already has the most Asia service.
In the expansion, United is using a tactic that’s unusual in its network: Its airplanes from Los Angeles and San Francisco that are headed for Hong Kong will then go on to the two new destinations. The Bangkok, Thailand, and Ho Chi Minh City, Vietnam, service is set to begin on Oct. 26.

On Oct. 25, United plans to add a second daily nonstop flight from San Francisco to Manila, Philippines, and on Dec. 11, it will launch nonstops from San Francisco to Adelaide, Australia, which will operate three days a week.

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The carrier has aggressively been adding far-flung destinations not served by rivals to its routes, like Nuuk, Greenland, and Bilbao, Spain, which start later this year. Getting the mix right is especially important as carriers seek to grow their lucrative loyalty programs and need attractive destinations to keep customers spending.
Bangkok, in particular, “is in even more demand now given the popularity of ‘White Lotus,'” Patrick Quayle, United’s senior vice president of network and global alliances, said of the HBO show.
He said the carrier isn’t planning on cutting any international routes for its upcoming winter schedule. More

Mixed martial arts league UFC has reached a multimillion-dollar, multiple-year sponsorship deal with technology company Meta, UFC told CNBC.
The deal is wide ranging and will integrate UFC with Meta across its products and platforms.
UFC CEO Dana White is on the board of Meta.

UFC CEO Dana White, left, and Meta CEO Mark Zuckerberg attend the UFC 300 event at T-Mobile Arena in Las Vegas, Nevada, April 13, 2024.
Jeff Bottari | Ufc | Getty Images

TKO Group’s UFC has struck a multimillion-dollar, multiple-year partnership deal with Meta that will bring the mixed martial arts league closer to Mark Zuckerberg’s technology company, UFC told CNBC.
UFC’s integration with Meta will span the company’s portfolio, including Meta AI, Meta Glasses, Meta Quest, Facebook, Instagram, WhatsApp and Threads. Specific financial terms weren’t disclosed.

Meta will become the “official fan technology partner” of UFC and will have its branding featured in UFC’s Octagon ring for pay-per-view and “Fight Night” events.
“Mark and his team at Meta are going to do things that will blow away UFC fans,” UFC President and CEO Dana White said in a statement to CNBC.
The partnership with Meta is separate from the UFC’s media rights discussions, which are set to kick off later in April. UFC’s exclusive negotiating window with its current partner ESPN ends April 15. ESPN doesn’t plan to renew its deal before the window’s expiration, CNBC has previously reported.
The companies first started working on a sponsorship deal in the second half of 2024, according to Grant Norris-Jones, TKO’s head of global partnerships. UFC held discussions with a number of potential partners in different business units and realized Meta could provide the league with much of what it wanted, Norris-Jones said in an interview.
“Meta will be our official marketing partner, our official AI glasses partner, our official wearable partner, an official social media partner,” said Norris-Jones. “They’re making a significant investment into our ecosystem.”

Meta’s Threads will feature exclusive UFC content and will be referenced in live UFC broadcasts, Norris-Jones said. Both companies are already working on a series of follow-on announcements to come in the next three to nine months, including more details around a new UFC fighter rankings system that will draw on Meta technology, he said.

Zuckerberg’s MMA love

While White and Zuckerberg, Meta’s founder and CEO, didn’t personally hammer out terms of the deal, it’s “nice to have the air cover” of the executives’ close relationship, Norris-Jones said. White joined the Meta board in January.
“I love this sport and I’m looking forward to working with UFC to let fans experience it in new ways,” Zuckerberg said in the statement to CNBC.
The Meta CEO has attended a number of UFC events and personally participates in mixed martial arts.

U.S. President Donald Trump and Meta CEO Mark Zuckerberg.
Cheney Orr | Manuel Orbegozo | Reuters

Zuckerberg said on Joe Rogan’s podcast in January that corporate culture would benefit from more “masculine energy.” The Meta CEO said in July that President Donald Trump’s reaction after getting shot in the ear was “badass.” Trump is also friendly with White, who endorsed Trump and spoke at the 2024 Republican National Convention.
“Having a culture that celebrates the aggression a bit more has its own merits,” Zuckerberg said on the Rogan podcast.
Meta noted Zuckerberg’s love of combat sports in its annual report as a potential risk factor.
“We currently depend on the continued services and performance of our key personnel, including Mark Zuckerberg,” the company said in a corporate filing. “Mr. Zuckerberg and certain other members of management participate in various high-risk activities, such as combat sports, extreme sports, and recreational aviation, which carry the risk of serious injury and death. If Mr. Zuckerberg were to become unavailable for any reason, there could be a material adverse impact on our operations.” More

Colorado-based Suerte Tequila said it will absorb all tariff costs.
In 2024, the U.S. imported $5.2 billion worth of tequila and $93 million worth of mezcal from Mexico, according to the Distilled Spirits Council of the U.S.
Factory ownership and low agave prices are giving Suerte an advantage in the competitive tequila market, its CEO told CNBC.

Suerte Tequila’s dedicated factory and agave farm in Jalisco Mexico.
Courtesy: Suerte Tequila

While some tequila makers have warned they might have to implement price hikes to offset tariffs, Colorado-based Suerte Tequila said it has been able to keep overhead prices low enough that it will absorb the levies if necessary.
The Jalisco-made tequila label will not pass costs on to customers.

“Absorbing the cost of the tariff goes right along with our philosophy and the way that we were setting up and designing and growing our business,” said Laurence Spiewak, Suerte Tequila CEO.
Suerte Tequila is a small-batch, single-estate, handcrafted tequila that launched in 2012. One year into operation, Suerte acquired majority ownership of its factory in Mexico from the distiller’s family, Spiewak told CNBC.
Along with its distillery, Suerte is one of a few registered tequila brands that owns its agave fields and has long-term partnerships with growers, which Spiewak said give it an edge against the competition.
“99% of brands our size do not own their own factory in Mexico and are co-packing or co-manufacturing with a whole different price structure,” Spiewak said.
Another reason Spiewak said he doesn’t understand the industry bracing consumers for price hikes is that agave prices have been falling. “Agave prices are down tremendously, so why would we raise prices?” he asked.

IWSR in its 2024 analysis of agave noted that prices hit a record 32 pesos (USD $2) per kilogram in 2022, but by February 2024, prices fell to 5 pesos (USD $0.30) per kilogram.
“Tequila margins are stronger than ever,” Spiewak added.
Spiewak’s tone is a shift in departure from larger industry players like Jose Cuervo tequila-maker Becle and Don Julio producer Diageo, which have warned about possible price hikes.
Becle previously said it could face an $80 million impact to its balance sheet this year if President Donald Trump moved forward with tariffs on Mexican products. A Jefferies analyst estimated Diageo, meanwhile, could see group sales decline by as much as 1.5%.
“I completely understand why [larger brands] are up in arms about a 25% tax on business,” Spiewak said. “Our whole cost structure and pricing, I mean everything when it comes to manufacturing, packaging and then exporting from Mexico into the U.S. and importing here is completely different.”
While Spiewak said owning the land allows his company to control overhead production costs that keep prices low, Brian Rosen, chairman at adult beverage investment firm InvestBev, said Suerte’s real competitive advantage is its independence.
“Any of these forward-facing companies that have shareholders and boards of directors are getting hammered because the shelf pull is slowing down, while at the same time the price is going up and at the same time as Americans are drinking less,” Rosen said. “Someone’s got to take a bullet and these smaller companies don’t have any of that kind of pressure.”
Compared with the broader spirits industry in 2024, tequila and mezcal were the only spirits category that saw sales growth, with the U.S. importing $5.2 billion worth of tequila and $93 million worth of mezcal from Mexico, according to the Distilled Spirits Council of the U.S.
Suerte’s tequila shipments grew 55.8% in 2024 compared with the year prior. That’s continued in 2025, growing 43% year-over-year through February, Spiewak said.
“The key to our success is maintaining focus in a very noisy space,” Spiewak said. “Raising prices on consumers already looking to spend doesn’t make sense for us right now.” More

GM and other automakers are reporting notable increases in their first-quarter U.S. vehicle sales, as the automotive industry braces for the impacts of President Donald Trump’s auto tariffs.
GM reported a 16.7% jump in U.S. sales compared with the first quarter of 2024, led by incremental gains in sales of new EVs and notable gains in full-size SUVs.
The sales results come ahead of tariffs ordered by Trump taking effect this week, including 25% on imported vehicles.

SUVs at a Chevrolet dealership in Oshawa, ON.
Rene Johnston | Toronto Star | Getty Images

General Motors and other automakers reported notable increases in their first-quarter U.S. vehicle sales, as the automotive industry braces for the impacts of President Donald Trump’s auto tariffs that are set to take effect this week.
GM on Tuesday reported a 16.7% jump in new vehicle sales compared with the first quarter of 2024, led by incremental gains in sales of new all-electric vehicles such as the Cadillac Escalade IQ and Cadillac Optiq, as well as notable increases in entry-level crossovers and full-size SUVs.

The Detroit automaker is expected to have significantly outpaced overall industry sales for the first quarter, which appear to be more robust than expected. Auto analysts originally had forecast roughly 1% or less year-over-year sales growth.
South Korean automakers Hyundai Motor and Kia Motors also reported double-digit sales gains of roughly 10% and 11%, respectively, compared with the first quarter of 2024. Nissan Motor, meanwhile, reported a 5.7% increase during the first quarter, followed by a 5.3% jump for Honda Motor and roughly 1% quarterly year-over-year gain for Toyota Motor.
Outliers for first quarter sales included Chrysler parent Stellantis, down roughly 12% amid a company turnaround plan, and Ford Motor, which reported a 1.3% sales decline largely due to the discontinuation last year of its Ford Edge SUV.
The sales results come ahead of tariffs ordered by Trump taking effect this week, including 25% levies on imported vehicles starting Thursday. The auto industry is also awaiting announcements of potential additional “reciprocal” tariffs that could affect automakers on Wednesday.

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J.D. Power last week forecast robust industry sales for March as consumers flocked to dealerships to purchase a new vehicle to avoid any potential increase in prices due to tariffs.

“The 13% year-over-year retail sales increase is particularly strong, enabled by consumers accelerating purchases to avoid potential tariff-related price increases,” Thomas King, president of the data and analytics division at J.D. Power, said in a release. “While the tariff situation remains both fluid and uncertain, the prospect of tariffs is already beginning to affect the industry.”
Hyundai Motor North America CEO Randy Parker said the South Korean automaker’s Hyundai and Genesis brands experienced a significant increase in dealership traffic and sales at the end of the month, amid Trump’s confirmation last week that widespread 25% tariffs would be taking effect for vehicles assembled outside of the U.S.
“The last week, and including this past weekend, was by far the best weekend that I’ve seen in a very long time,” he said Tuesday during a media call. “I’ve been doing this now for a very, very long time. So lots of people, I think, rushed in this weekend, especially, to try and beat the tariffs.”
It was a similar experience at other automakers such as Ford. While the Detroit automaker’s overall sales experienced a slight decline in the quarter, the automaker reports its retail sales, which exclude its fleet business, were up 5% year over year. The retail sales were driven by a 19% increase in March, Ford said.
Ford’s move to end production of the Edge, which was produced in Canada, was unrelated to Trump’s tariffs.
The 25% tariffs, set to take effect Thursday, are expected to include all vehicles that are not made in the U.S. The White House last week said the tariffs, which will be paid by companies, are expected to result in more than $100 billion of new annual revenue to the U.S.
There are major concerns regarding the tariffs when it comes to companies’ earnings, as well as the potential of higher prices on new vehicles, which are already hovering around $48,000, according to Cox Automotive.
Hyundai’s Parker said the company has not yet decided if it will raise vehicle prices due to tariffs, but he alluded to now being a great time to purchase a vehicle ahead of any potential changes.
“We continue to evaluate all of the scenarios,” Parker said. “But what I would say to our customers is that, just like all things in life, tomorrow is never guaranteed. And if you’re interested in buying a car, right now is a great time to buy a car, because as of today, we haven’t rose prices.”
Hyundai, like most major automakers, produces vehicles in the U.S. but also imports a substantial amount from outside of the country. Hyundai, including its sibling Kia carmaker, is currently ramping up vehicle production at a new multibillion-dollar assembly plant in Georgia.
The automaker said Tuesday about 40% of its Hyundai and Genesis vehicles sold in the U.S. were built at its manufacturing facility in Alabama. That number, the company said, will increase this year with the addition of the Metaplant in Savannah, Georgia.
S&P Global Mobility expects U.S. light-vehicle sales could migrate to between 14.5 million and 15 million units annually in the coming years, if the tariffs remain in effect. That compares with roughly 16 million vehicles sold in 2024.

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“THE GOLDEN age of America begins right now,” intoned Donald Trump at the start of his inaugural address on January 20th. The business world bought the glittering talk, in anticipation of lower taxes, less red tape and buoyant American consumers. Between election day in November and the swearing-in, the Russell 3000 index, which covers most of America’s public companies, rose by 5%. The resulting $2.4trn in new shareholder value was equivalent to the entire Indian stockmarket with two Mexican bourses thrown in. America was first. No one came remotely close. More

Airline stocks traded lower Tuesday.
Concerns are growing about travel demand, with a decline in spending and consumer confidence.
Jefferies downgraded Delta, American, Air Canada and Southwest.

A Delta Air Lines Boeing 767-332(ER).
Joan Valls | Nurphoto | Getty Images

Airline stocks slid further on Tuesday as Wall Street’s concerns about weaker-than-expected travel demand amid looming tariffs and a sharp drop in consumer confidence continue to weigh on the sector.
Shares of Delta Air Lines fell more than 2% in trading Thursday after Jefferies downgraded the carrier, the most profitable in the U.S., to a hold rating from buy, and nearly halved its price target to $46, several weeks after the airline cut its first-quarter guidance.

The bank said Delta would “likely” reduce its 2025 forecasts. While concerns have grown, particularly about more price-sensitive travelers, Delta executives have said the airline has been growing its share of revenue from its higher-end cabins like first class, as well as its lucrative credit card partnership with American Express.
Delta kicks off U.S. airlines’ earnings season when it reports results next Wednesday morning.

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Jefferies also cut its rating on American Airlines, Southwest Airlines and Air Canada, which has outsize exposure to a slowdown in cross-border travel with the U.S.
American also dropped 2%, while Southwest sank more than 5%.
United Airlines remains Jefferies’ sole buy airline of the U.S. carriers, though it also slashed its price target by 48%.

Airline executives at a JPMorgan industry conference in mid-March warned about softer-than-expected demand, particularly for domestic travel, which makes up the bulk of the U.S. travel industry’s revenue.
U.S. household credit and debit card spending overall was up 1.5% over last year as of March 22, but spending on airlines dropped 7.2%, according to a Bank of America report last week.
On Monday, the Bank of America Institute wrote in a report that the decline in travel card spending “could be that the recent drop in consumer confidence is translating into people hesitating to book trips, or considering paring them back” but added that “bad weather and a late Easter this year are also likely playing a part.”
The NYSE Arca Airline Index, which tracks mostly U.S. carriers, fell 18% in the first quarter, outpacing the S&P 500’s decline and marking the sector index’s biggest percentage drop since the third quarter of 2023.
Correction: The NYSE Arca Airline Index fell 18% in the first quarter. A previous version misstated the drop.

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Shares of conservative cable channel Newsmax soared for a second day.
The stock spiked more than 700% in its public debut on Monday.
The right-wing cable channel has gained traction during President Donald Trump’s second term, but its viewership still pales in comparison to the dominant Fox News.

A NEWSMAX television crew member steam irons a backdrop during the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, on Saturday, February 24, 2024.
Tom Brenner | The Washington Post | The Washington Post | Getty Images

Shares of conservative cable channel Newsmax soared nearly 180% Tuesday, a day after the stock’s dizzying debut on the New York Stock Exchange.
Newsmax shares have risen more than 1,500% since its Monday debut, when it opened at $14 per share. It closed at $233 per share on Tuesday.

The skyrocketing stock not only brought the company’s market capitalization to nearly $30 billion — surpassing the market cap of legacy media companies like Warner Bros. Discovery and Fox Corp — it also propped up the returns of its investors.
Traditional media IPOs are hard to come by, especially given the significant changes to companies’ business models in recent years, and Newsmax’s meteoric debut was unexpected. The highly anticipated stock debut of CoreWeave on Friday — the biggest tech IPO since 2021 and first pure-play artificial intelligence offering — saw a tempered start in comparison.
Founder and CEO Christopher Ruddy, who owns roughly 39.2 million Class A shares of the company and 81.4% of voting stock, joined the billionaire ranks after the initial public offering. As of the market close, Ruddy’s stake was worth more than $9 billion.
Interactive Brokers founder and billionaire Thomas Peterffy is Newsmax’s second-largest shareholder with 23 million shares — worth more than $5 billion as of Tuesday — owned through a limited-liability company, Conyers Investments.
Peterffy invested $50 million in Newsmax in 2019, according to an individual familiar with the deal. He declined to comment on his investment to CNBC. Peterffy has appeared on Newsmax before and is a prominent GOP donor.

On Tuesday, Newsmax sent out an email to investors highlighting its stock rise on the opening day of trading.
“Americans for a long time have been voting with their remote controls, downloads, apps to say they want Newsmax. Now investors powerfully are buying Newsmax shares because they like us, they value us and they want us to keep growing,” Ruddy said in a statement to CNBC.

Rising red tide

Fox News and Newsmax television studios are seen in the Fiserv Forum on the day before the Republican National Convention begins, in Milwaukee, Wisconsin, July 14, 2024.
Joe Raedle | Getty Images News | Getty Images

Newsmax, which launched its right-wing cable network in 2014, has gained traction during President Donald Trump’s second term and is the fourth most-watched cable news channel after Fox News, MSNBC and CNN, according to Nielsen.
Ruddy said on Monday that Newsmax counts Republican and Democratic lawmakers as both contributors and viewers. “We believe we’re conservative with an independent news mission, and we ask tough questions of the Trump administration.”
Last week, Ruddy posted on X that he received a call from Trump, adding “I shared with Potus my new saying: ‘A rising Trump lifts all boats!'”
“This shows there continues to be financial support for all things MAGA. There is room for a multiplicity of voices on the right in a way we haven’t seen emerge on the left,” said Jonathan Miller, a former senior News Corp. executive who currently serves as CEO of Integrated Media, which specializes in digital media investments.
Newsmax transitioned from a digital media outlet to a cable channel because Ruddy saw an opportunity to grab market share from Fox News, he told CNBC’s “Squawk Box” on Monday.
Still, its viewership pales in comparison to the dominant conservative channel Fox.
Between Dec. 30 and March 20, Newsmax had an average of 309,000 prime-time viewers and 211,000 daytime viewers, according to Nielsen data. Fox News attracted an average of nearly 3.1 million prime-time viewers and roughly 2 million daytime viewers during the same period.
The trading Tuesday continued a stunning rise for the pure-play cable TV stock. Even as news and live sports grab the biggest audiences, the industry has suffered in recent years as consumers flee cable bundles in favor of streaming.
“We hate the bundle. The bundle is terrible for the cable industry. It’s terrible for consumers,” Ruddy said Monday, referring to the traditional pay TV package of a multitude of channels that once dominated the industry.
Despite remaining profitable and raking in cash for media companies, the bundle has been losing subscribers at a fast clip as consumers opt for cheaper streaming options rather than the notoriously pricey package of channels.
Ruddy pointed to this in his comments, noting that consumers who want access to networks like ESPN — which capture the bulk of viewers, and in turn, higher fees — are still stuck paying for a package of channels they may not want or need.
Newsmax started receiving fees from pay TV distributors in recent years to carry its network after primarily receiving advertising revenue to support the business as it built its audience.
Ruddy said Monday that Newsmax’s fees have been increasing. He added that Newsmax is also available on streaming and has podcasts — offerings that are typical of all media businesses currently.
— CNBC’s Hayley Cuccinello contributed to this article.
Disclosure: NBCUniversal is the parent company of MSNBC and CNBC.

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