Nickelodeon Hopes for Rescue by ‘Ninja Turtles’
Nickelodeon Hopes for Rescue by ‘Ninja Turtles’
Over the past year, Nickelodeon has lost 28% of its young audience, according to ratings firm Nielsen. The network’s signature programming, “SpongeBob SquarePants” and tween sensation “iCarly,” have lost cache with kids who are turning to other channels and other entertainment such as video games.
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That has provided an opening for competing networks to make gains. Arch rival Disney Channel last year surpassed Nickelodeon among its target audience of viewers aged 2 to 11, shattering Nick’s 16-year streak of ratings victories.
“I can’t think of another instance in television history in which a network that has been so dominant for so long has fallen so far and so fast,” said Todd Juenger, media analyst with investment firm Sanford C. Bernstein & Co.
Nickelodeon’s ratings stumbles have captured the attention of Wall Street because the network is a crucial profit center for parent company Viacom Inc. The Nickelodeon networks, which include Nick Jr. and TeenNick, last year generated $2.5 billion in revenue for the company — and more than 37% of Viacom’s cash flow, according to consulting firm SNL Kagan.