In its first two weeks on the air, MSNBC’s “The Cycle,” made up of an ensemble of hosts including Toure, S.E. Cupp, Steve Kornacki, and Krystal Ball, is holding its own down just -1% in Total Viewers compared to the same period last year when Martin Bashir‘s show aired at 3pm. But the show is down -36% where it counts, in the A25-54 demo.

In its first two weeks (which included the July 4 holiday last week) “The Cycle” is averaging 383,000 Total Viewers and 77,000 A25-54 viewers.

Compared to the previous month, “The Cycle” is down -16% in the demo and down -5% in Total Viewers.

But MSNBC is fully aware that it takes any new show time to build an audience. A year ago today, FNC’s “The Five” — which “The Cycle” resembles — debuted. In its first two weeks the show averaged 1.25 million total viewers and 261K in the demo. So far for July “The Five” is averaging 1.83 million Total Viewers and 405,000 A25-54 viewers.