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The rise and fall of CNBC’s “Last Call”: A deep dive into evening business news programming
The ambitious launch of “Last Call”
In March of last year, CNBC embarked on a bold venture to captivate evening audiences with “Last Call,” a 7 p.m. business-news program. The show was part of a broader strategy to extend the network’s influence beyond market hours, aiming to keep business-news aficionados engaged well into the evening. Anchored by Brian Sullivan, “Last Call” promised to deliver insightful analysis and timely updates on the financial world. However, despite the high hopes and strategic planning, the show struggled to find its footing.
The challenge of evening business news
The cancellation of “Last Call” underscores a persistent challenge for CNBC: how to retain its core audience after the market closes. The network, renowned for its comprehensive financial coverage during the day, has long sought to translate that success into the evening hours. Executives like Dan Colarusso, senior vice president of CNBC Business News, were optimistic about cracking the 7 p.m. slot. “We want to be useful. We are valuable when we are useful. If we can extend that usefulness to 7, that’s a big win for us,” Colarusso told Variety in 2023.
The shift to “Shark Tank”
With “Last Call” failing to attract a significant viewership, CNBC has decided to replace the program with an hour of “Shark Tank,” a proven staple for the network in nighttime hours. The decision reflects a pragmatic approach to programming, leveraging the popularity of unscripted competition shows to maintain audience engagement. “Shark Tank” has consistently drawn viewers with its dynamic format and entrepreneurial spirit, making it a reliable choice for the network.
The broader context: CNBC’s evening programming struggles
The cancellation of “Last Call” is not an isolated incident. CNBC has faced similar challenges with other evening programs. In 2020, the network brought in Shepard Smith, a former Fox News Channel anchor, to host “The News,” a general-interest news program that covered both business topics and broader news cycles. Despite Smith’s high profile and the show’s comprehensive coverage, it failed to generate a substantial audience and was ultimately canceled in 2022.
The economics of cable TV and the move to streaming
The difficulties faced by “Last Call” and other evening programs are indicative of broader trends in the television industry. As viewers increasingly shift to streaming platforms, the economics of cable TV have become more uncertain. CNBC has relied on unscripted competition programs like “Shark Tank,” “The Profit,” and “Jay Leno’s Garage” to fill its evening slots, but even these shows are under scrutiny as the landscape evolves.
Personal reflections on the future of business news programming
As a long-time viewer of CNBC, I find the network’s struggle to retain evening audiences both intriguing and reflective of larger shifts in media consumption. The challenge lies not just in the content but in understanding the changing habits of viewers. Business news, by its nature, is often tied to the market’s hours, and extending that interest into the evening requires a nuanced approach.
The potential for innovation
Despite the setbacks, there is potential for innovation in evening business news programming. The key may lie in integrating more interactive and engaging formats that resonate with modern viewers. As streaming platforms continue to grow, there is an opportunity for CNBC to explore new ways of delivering content that aligns with the on-demand nature of digital media.
A reflective closure
The cancellation of “Last Call” serves as a reminder of the complexities involved in programming for a niche audience. While the show may not have succeeded, it represents an ongoing effort to adapt and evolve in a rapidly changing media landscape. As CNBC continues to experiment with its evening lineup, it will be interesting to see how the network navigates these challenges and what new strategies it will employ to keep viewers engaged.
For those interested in exploring the dynamic world of business news and unscripted competition shows, check out the trailer for “Shark Tank” here.
