This irreversible trend in viewing habits helps explain why some television networks have turned their programs around to concentrate on all kinds of news that affect investments and money trends.
One of these networks is CNBC, a unit of NBC Universal which is reputedly the world leader in business news and information. It is distributed to approximately 400 million homes worldwide.
In an e-mail interview with the Inquirer, CNBC Asia president and managing director Jeremy Pink talks more about the changing viewing habits and the reasons behind the popularity of financial news.
Q: Do you think there has been an increase in the interest in financial news in Asia?
A: Yes, there is an increase in the interest in financial news, and when it matters, viewers tune into CNBC.
The past year has seen very volatile movements in the markets globally. The credit crises in the United States, as well as the rising oil and food prices especially, have had a massive impact on the global economy.
During this period, CNBC has recorded an increase in viewership globally. Our network in the United States has enjoyed the best business day viewing that it has had in years. In Asia, in markets that measure us, we have had a positive spike in ratings of around 35 percent.
Q: What programs are viewers most interested in? What is the character of these shows, and why the interest?
A: We provide global and regional news with local relevance, focusing more on high impact, fast-moving real-time market action from around the world, which our audiences, the high net worth individuals and financial professionals, are able to act on. So, our viewers are interested in watching our programs all through the day.
Some of the more preferred programs include Squawk Box, which breaks the biggest business stories in the region and provides global news and analysis with regional relevance; Cash Flow, the program delivers actionable data for viewers to act on and Managing Asia, a weekly half-hour program that provides Asia’s groundbreaking look inside the minds of the region’s top leaders.
Q: How has CNBC responded to the market? Has programming, for instance, been revised? What were added and what were dropped over the past two years?
A: CNBC’s core programming strategy is to follow the money LIVE around the world. Last year, CNBC Asia Pacific re-launched the programming schedule to enhance our coverage. CNBC Asia Pacific’s programming schedule starts with an in-depth look at the Australian market, and how it reacted to the close of Wall Street the day before, which is indicative of how the Asian markets will react. This is then followed by Squawk Box (Asia) and CNBC’s Cash Flow where we provide in-depth business, economic and investment news, information and analysis that our viewers can act on. Capital Connection follows where Asia (during midday) hands the baton to Europe (early morning). Squawk Box (Europe) follows, and after which we air Worldwide Exchange.
Worldwide Exchange is an interesting proposition that we offer to our viewers. It is the first truly worldwide business news program launched in response to the increasing demand for business news that is more relevant in the global economy. Worldwide Exchange covers the close of the trading day from Asia, the middle of the trading day in Europe and pre-market action in the United States. The show identifies the big story of the day and monitors its impact in the global markets while also providing live on location reports from key business centers around the world including Shanghai, Hong Kong, Frankfurt, Paris, Brussels, Dubai and more. Worldwide Exchange is broadcast simultaneously on CNBC around the world.
CNBC Asia Pacific’s programming is then rounded off with 12 hours of programming from CNBC US.
Our new programming schedule illustrates the efficiency of how CNBC operates as a global network. We are able to tap into our global resources and our 20 affiliates and bureaus around the world, to effectively provide our viewers what they need. The recent market volatility has proved that when it counts economically, more viewers tune into CNBC. For example, during the Bear Sterns fire sale in March this year, our ratings in Asia spiked by 36 percent. More people tuned into us to understand what has happened, and how it will impact the markets.
Q: What is CNBC’s vision? What does it want to become for its viewers? For example, does CNBC want to be the indispensable partner in making financial decisions?
A: CNBC’s vision is to be First in Business Worldwide, by providing fast, accurate, dynamic and unbiased LIVE business and financial news and information, which our audience can act on. Reaching approximately 400 million households worldwide, CNBC’s programming offers stronger and more dynamic coverage of real time global business and financial news and analysis, across our global platforms. With over five networks and 20 partners and affiliates worldwide, CNBC taps on global resources to follow the money around the world, in real time, to most effectively cover the global business, economic and financial environments.
CNBC is a valuable business resource, providing, in real time, the most up-to-date and comprehensive business and financial news and information that financial professionals, senior management and high net worth investors can rely on. Proprietary research shows that more than 67 percent of CNBC’s viewers act on the information provided by the network. So, CNBC is an indispensable business resource and partner in making financial decisions.
Q: Would you have a specific reading on the viewing behavior from the Philippines? Has viewership increased? Why or why not?
A: According to the PAX 2007 [Q2- 2008 Q1 (Manila)] research, CNBC has seen a growth in Top Management audience by 8 percent (year on year). PAX has also noted growing affluence amongst Philippines CNBC viewers (Monthly personal income grew 10 percent year on year). Also, PAX has recorded a growth in time spent watching CNBC by 43 percent (year on year).
This increase is reflective of the general regional viewing behavior in the region. This is due to a few reasons:
a. There is an increased appetite amongst viewers for global and regional business and financial news, and most viewers want to follow the money, LIVE.
b. CNBC is unsurpassed in its coverage of global and regional business news, and during this time of severe market volatility, more people tune into CNBC to gain insights about the markets.
Also, the 2008 Asia Pacific Pay-TV Operators Survey reflects the quality business and financial content provided by CNBC, as voted by the Pay-TV operators. For three straight years, CNBC dominated the business category as providing the best programming quality.
Q: Are there plans to increase content or appearances by Filipino CEOs, for instance?
A: Last year, CNBC Asia Pacific established a partnership with ANC, which features two hits a week from ANC, LIVE from Manila, into CNBC’s Cash Flow.
As of 26th of August this year, we have strengthened our partnership with ANC, and have increased LIVE coverage from Manila from two hits a week, to five hits a week, into CNBC’s Cash Flow. ANC has been a great partner for us, and their LIVE Manila hits into our programs have been instrumental in helping us cover the region more robustly.
We look forward to further strengthening our partnership with them.
In the past year, Managing Asia has also interviewed some of the high powered CEOs in the Philippines. We have had Tony Tan Caktiong, CEO of Jollibee, Lance Gokongwei, CEO, Cebu Pacific Air and John Gokongwei.
Q: How do you see the station moving forward?
A: CNBC Asia Pacific had a successful 2007. We re-launched our business day programming schedule, increased our distribution by 2 million households, launched a new bureau in Sydney, and created three new shows in Australia, launched new mobile products, as well as developed and strengthened relationships with key local media corporations, like Chosun in Korea, Nikkei Inc. in Japan and ANC in the Philippines.
The focus for the network in 2008 is to build on this progress. In Asia Pacific, we recorded a viewership increase in Singapore of 36 percent in response to our new programming line up. We have also consolidated our coverage of top regional economic and political events, making us a must-have source of business and financial information. On the digital front, we continue reaching anybody, anytime, anywhere. We expanded our mobile offerings in the region and our online presence has doubled the number of page views. We have also invested in new broadcast studios in Hong Kong as well as in Australia.
Moving forward, we look forward to strengthening and building our core product, programming. We would also like to focus on building and strengthening our local distribution and partnerships across the region. We are also looking to aggressively grow and strengthen our digital strategy.
Source : business.inquirer
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