CNBC’s Hoffman: “Being Narrow and Deep is What Works”

LIVE Blogging from the FOBM conference in Manhattan.

Coming off his network’s best October ratings in four years, CNBC president Mark Hoffman took the stage of the Future of Business Media conference this afternoon.

Hoffman was not shy when it came to describing his audience. “We’re not interested in everybody. We think that cable television is a niche medium. Being narrow and deep is what works,” Hoffman said. “We’re interested in the 60% of American households that own a stock, bond or fund.”

The Q&A session included a discussion about CNBC’s international channels, the growth of CNBC.com and CNBC’s early morning (in the U.S.) program Worldwide Exchange. There was also a heavy dose of questions about the new competition from Fox Business Network.

“This whole discussion about Main Street, Wall Street,” offered Hoffman, “we’re frankly for any street where people are interested in money.” Asked about FBN and its approach to delivering business news and how it compares to CNBC, Hoffman said, “We take what we cover seriously but we’re not doing the Lord’s work, so there is some room for levity.”

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