Three years after their divorce at CNN Brazil, Rubens Menin and Douglas Tavolaro are gearing up for a battle for viewership with the simultaneous launch of two TV channels focused on economy and business.
The CEO and partner of Rubens at CNN, João Camargo, leaves no doubt about what this battle will be like.
“We will be the only channel that will survive in the next 12 months.”
But what about CNBC?
“CNBC is not a channel, it is a broadcasting license.”
Tavolaro – the former VP of journalism at TV Record who launched CNN Brazil in 2020 with an investment from Menin – also does not hide the magnitude of the showdown.
To friends, he says that CNN Money is being launched hastily, just to try to disrupt the launch of CNBC, the iconic American channel that is a must-watch on Wall Street.
Tavolaro owns 85% of CNBC Brazil. His minority partner is Attention Economics (AE), a fund specializing in digital media ventures. The managing partner of AE is Greg Beitchman, a former commercial VP of Warner and CNN International.
In conversations with the market, Tavolaro raises doubts about how CNN Money will generate enough content for a 24-hour broadcast without having CNN material available for reproduction – since the Atlanta-based network does not have other CNN Money channels worldwide.
While the expansion of the journalism market is always welcome, the market’s doubt is whether there will be viewership and advertising to justify two channels operating in the same niche.
“There is always room when the content is of quality,” says Erh Ray, CEO of the agency BETC Havas, one of the largest media buyers in the country. “But there is no secret: it needs viewership to justify and attract advertiser investments.”
For Pipo Calazans, CEO of DM9, the big challenge for the two channels will be the execution of the multi-platform model – where content is distributed on cable TV, web, streaming, social media, and out-of-home media.
“There is space, but as my father would say: We’ll see.”
The duel will be fierce from Day One: the two channels will premiere virtually on the same day. CNBC Brazil (the channel is in Portuguese, but the order is to call it “ci, en, bi, ci”) premieres on November 3; CNN Money, the next day.
The dispute has already spilled over into the political agenda.
The CNBC launch party will be on November 1 at the Grand Hyatt in São Paulo, and the organizers say that President Lula has confirmed his attendance, along with other politicians and ministers.
On the other hand, CNN Money plans to bring together 1,000 people on the 4th at Casa Fasano; authorities and politicians are also expected, especially since João Camargo is the owner of Esfera, the currently dominant company in events that bring together politicians and entrepreneurs.
Despite all the glamour and influence, television channels have always been a treacherous business, with costs that devour mountains of capital in exchange for dubious returns.
TV owners themselves are the first to admit that life is tough; and with the advance of online media (read Google advertising) over the past decade, even the Marinho family had to cut costs to survive in recent years.
Since viewership is not built overnight, the survival of the new entrants, in practice, will be decided in the advertising market.
CNBC says it already has 14 founding advertisers, and will reach 15 or 16 by the premiere day. CNN Money states it has 6 and “is already profitable with just those,” according to João Camargo, who became Menin’s partner at CNN Brazil with a cost-cutting and revenue-increasing agenda.
CNBC invested more than R$ 100 million to equip the new channel, according to market estimates. CNN Money is more of a new brand than a new channel, as it will leverage the journalists and technicians of CNN Brazil, which has 550 professionals. The company promises to pay an extra to those who are already there, says it will hire another 45 people, and set up just one new studio.
Coincidentally, neither Douglas nor Camargo want to estimate their potential revenue.
CNBC will feature news, reality shows, and sports, always connected to the world of business – in addition to a good dose of licensed programming from American CNBC.
CNN Money says it does not intend to “reinvent the wheel” and plans to replicate the model of the now-defunct TV Bloomberg: one presenter on one side of the screen, graphics on the other.
CNBC aims to popularize business and economy news. CNN Money as well.
CNBC will be on YouTube. CNN Money too.
CNBC was announced in March. CNN Money emerged in September, but João Camargo ensures they had been planning the new channel for a year and a half, under the scrutiny of CNN International.
CNBC boasts of being “completely independent” and not having “a bank as a partner” (but claims to have 3 sponsoring banks). CNN Money is owned by Menin, whose family controls Banco Inter.
CNBC projects it will reach 50 million people. CNN Money states it already owns the third highest-traffic website in the country and will become a portal next year.
CNBC presents entertainment journalism figures (like Zeca Camargo) and sports personalities (like Carol Barcellos) to its advertisers, but has not yet revealed any senior names from the economic journalism field.
CNN Money bets 100% on journalists specialized in economics and business, such as Fernando Nakagawa and Thais Herédia.
CNBC will have Christiane Pelajo. CNN Money will have William Waack.
As Ed Murrow, the father of American journalism, used to say: Good night… and good luck!
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
