Conservative media outlet Newsmax announced its financial results for the second quarter of 2025, touting its strong revenue growth just days after reaching a defamation lawsuit settlement with Dominion Voting Systems.
Newsmax CEO Christopher Ruddy said the network recorded quarterly revenue of $46.4 million for the three months ending June 30—an 18.4% increase over the second quarter in 2024, beating expectations.
“We are excited to report another strong quarter with impressive financial and operational results that demonstrate the power of our growing cable and FAST channels,” Ruddy said in a statement. “Our second-quarter revenue growth reflects the continued strength of our business model and the resonance of our content with American audiences.”
Newsmax’s total broadcasting revenues jumped significantly, growing from $29.6 million during the second quarter of 2024 to $38 million for the second quarter of 2025—an increase of 28.5%. Year-over-year, advertising revenue rose 26.2% due to higher Nielsen ratings, and affiliate revenue was up 7.3% due to new contractual relationships.
“Our strong financial position, bolstered by our successful [initial public offering] and access to public markets, provides the strategic flexibility to capitalize on the significant opportunities in the evolving media landscape,” Ruddy added. “We are building for sustainable, long-term growth while expanding our reach across multiple distribution channels and platforms.”
Earlier this week, Newsmax announced its settlement with Dominion Voting Systems stemming from a defamation lawsuit filed in 2021.
Ruddy said the $67 million settlement would allow the network to move beyond the litigation and continue delivering “the trusted news and analysis our viewers rely on every day.” It’s also expected to reduce Newsmax’s future legal expenses.
“This was a strategic business decision made in the best interests of the company and its shareholders, and we remain confident in the integrity of our journalism and steadfast in our commitment to a free and vibrant press,” Ruddy said.
Looking ahead, the company is expanding both domestically and globally, now reaching over 60 million U.S. homes and over 100 countries, through multiple partnerships with Fubo, Hulu Plus, and international telecom providers.
“With our diversified revenue streams showing growth across affiliate fees, advertising, and subscription services, and supported by a strong balance sheet, we are well-positioned to capitalize on ongoing trends in streaming, international markets and multi-platform distribution,” Ruddy said.