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Fallen King of Cable TV Bets That Live Sports Can Stem Decline
USA Network, once a ratings leader, retools as NBCUniversal reckons with shrinking cable business.
Once an icon of cable TV’s money-minting powers, USA Network today symbolizes the industry’s long slide in the face of relentless cord cutting. Now, it’s becoming a crucial test of how much more cash can be wrung from the declining pay-TV business.
The network's owner, Comcast Corp.’s NBCUniversal, unveiled a plan in late January to reverse slumping audience ratings at USA, once the most-watched cable channel in prime time. With many new shows heading to NBCUniversal’s new streaming service, Peacock, management is pulling hockey, soccer and auto racing from the faltering NBCSN sports channel and handing that programming to USA.