Amid a challenging environment for cable news, MSNBC host Joy Reid is reportedly set to take a pay cut to remain at the network. The decision comes as MSNBC faces declining ratings and broader economic pressures impacting the media industry. Reid, host of The ReidOut and a prominent far-left voice, reportedly earns around $3 million annually. Sources suggest her contract renewal is tied to a salary reduction. She is among several MSNBC anchors expected to face cuts, including 11th Hour host Stephanie Ruhle, according to The Ankler.
The financial strain isn’t unique to MSNBC. Rival networks such as CNN, ABC, CBS, and NBC are also preparing for additional layoffs as executives anticipate more industry challenges in the coming year. These cuts come even as networks depend on high-profile talent to attract viewers. Once bolstered by nonstop political coverage during the Trump administration and the 2020 election, MSNBC and other legacy networks have struggled to retain their audiences in an increasingly fragmented media landscape.
Cable ratings are declining across the board, with Fox News being the notable exception. Conversations with 20 network journalists and executives reveal a widespread sense of fatigue and a desire for 2024 to come to an end, coupled with deep uncertainty about the future of cable news, the outlet reported. “It’s pretty bleak,” said one seasoned cable network producer to The Ankler. “It’s past the point of hard alcohol.”
Even MSNBC’s flagship stars have felt the impact of cost-cutting measures. Rachel Maddow, considered the network’s biggest draw, reportedly took a pay cut in the millions of dollars to maintain her reduced but still influential presence on air. Since the recent presidential election, MSNBC has faced a steep decline in ratings. The network’s primetime viewership has dropped by over 60%, with The ReidOut losing approximately 47% of its total audience, now averaging 759,000 viewers, down from 1.4 million pre-election, according to Fox News. Overall, MSNBC’s primetime lineup has seen a 53% decline in total viewers, averaging 621,000, and an even more dramatic 61% drop in the key demographic, where the network now averages just 57,000 viewers.
Reid has recently faced criticism for controversial on-air remarks in which she referred to Florida as an “extremist right-wing fascist” state after the failure of Amendment 4, a proposal to enshrine abortion rights in the state constitution. The comments sparked backlash on social media, with some viewers calling for her removal. She is also frequently called out for her anti-white tirades, with some critics calling her the most racist cable host on TV.
The controversies add to a history of past challenges for Reid. In 2018, old blog posts containing homophobic content resurfaced, drawing widespread public criticism. Reid initially claimed her blog had been hacked but later apologized, calling the posts “insensitive, tone-deaf, and dumb.”