Tucker Carlson has long been an inescapable presence in culture—the conservative news host’s show “Tucker Carlson Tonight” was a frequent chart-topper among the cable news group and clips from his Fox News broadcasts often trended on social media. But for advertisers, Carlson’s reach wasn’t necessarily a desirable one, and his surprise departure from the Fox News fold may be a positive sign for the network.

Ahead of this year’s upfront, “[Fox] has actually got an opportunity to reset their relationship with advertisers if they choose,” said Brian Wieser, industry analyst and founder of the “Madison and Wall” newsletter. “It could actually be a really material difference.”

Carlson’s 14-year stint with Fox News ended with his final episode of “Tucker Carlson Tonight” last Friday. In March, “Tucker Carlson Tonight” ranked as the most-watched cable news program, averaging 3.25 million total viewers, according to Nielsen. It was also the most-watched cable news show among the coveted 25-54 demo, averaging 421,000 viewers. In comparison, CNN's “Anderson Cooper 360,” which also airs in the 8 p.m. prime time slot, averaged 635,000 total viewers in March.

Despite its ratings, multiple media agency buyers said that most clients avoid advertising against Carlson, as well as opinion news on most networks. The buyers said they had not heard from Fox yet about Carlson's exit.

Fox News declined to provide comment for this story. 

In 2020, multiple major companies withdrew from advertising against Carlson’s programming, including Disney, Papa Johns and T-Mobile, after the host made remarks discrediting the Black Lives Matter movement. The boycott wasn’t the first—advertisers pulled out in 2018, as well, when Carlson said immigrants made the U.S. “poorer and dirtier and more divided.”

“This could help Fox News as many clients strayed away from buying his program,” said one buyer, although the buyer noted that clients’ willingness to join the 8 p.m. time slot on Fox News would depend on Carlson’s replacement.

For now, Fox said, there will be a rotating slate of hosts for the show until a permanent replacement is found. The temporary show, “Fox News Tonight,” was hosted by “Fox and Friends” co-anchor Brian Kilmeade on Monday evening. Monday's show saw a 9% increase in the 25-54 demo compared to Carlson's last show, and beat out CNN and MSNBC combined with 2.6 million total viewers in the 8 p.m. hour, according to Nielsen Media Research.

Also read: Don Lemon out at CNN

National ad spend during the month of April for “Tucker Carlson Tonight” amounted to an estimated $10.1 million, according to iSpot, and $51.8 million year to date. Outside of Fox’s own promotions, top advertisers in Carlson’s show included MyPillow, WeatherTech and SiriusXM.

The brands did not return Ad Age’s request for comment.

Top Tucker Carlson Advertisers, April 2023 (all episodes, including late-night and weekend re-airs)

Top Brand Advertisers (by impressions SOV)

1. Fox News Channel (11.69%)
2. FOX Nation (8.97%)
3. My Pillow (8.76%)
4. Balance of Nature (5.98%)
5. Nutrisystem (3.55%)
6. Home Title Lock (3.19%)
7. WeatherTech (2.95%)
8. Stephen Siller Tunnel to Towers Foundation (2.79%)
9. GOLO (2.46%)
10. FOX (2.39%)
11. Tommie Copper (2.35%)
12. UroLift (2.25%)
13. Make America Great Again, Inc. (2.04%)
14. SiriusXM Satellite Radio (2.04%)
15. SuperBeets (1.88%)

Source: iSpot.tv

The potential to replace Carlson with another host could be a positive change for advertisers, said Wieser.

“If [Fox] were to provide a perch to someone else who is espousing white nationalist views, I think it’s safe to say that advertisers with large brands will continue to stay away,” said Wieser, who also noted that “the impact is not just on the one show—there are advertisers who stayed away from Fox and News Corp more generally because of association with him.”

The lineup of advertisers for “Tucker Carlson Tonight” is mostly void of major, national brands and is rather populated by direct-response advertisers, which Fox Corporation Chief Financial Officer Steve Tomsic said represented a soft market in the company’s second-quarter earnings. 

For Fox News more broadly, its top advertisers over the month of April haven’t differed substantially from those of “Tucker Carlson Tonight,” with the most notable brand added to the list being Liberty Mutual, according to iSpot.

Top 15 Fox News Advertisers - April 1-23 (by household TV ad impressions SOV)

1. Fox News Channel (7.99%)
2. Balance of Nature (4.51%)
3. My Pillow (4.55%)
4. FOX Nation (2.52%)
5. NewDay USA (1.84%)
6. Make America Great Again, Inc. (1.53%)
7. GOLO (1.38%)
8. Nutrisystem (1.38%)
9. SelectQuote (1.20%)
10. Consumer Cellular (1.15%)
11. FOX (1.09%)
12. BlackRock, Inc. (1.07%)
13. Safelite Auto Glass (1.04%)
14. Home Title Lock (1.04%)
15. Liberty Mutual (1.02%)

Source: iSpot.tv

Carlson’s exit could open an opportunity for national advertisers to return to Fox without fearing being associated with the host, who was known for perpetuating conspiracy theories and was a centerpiece in Fox’s since-settled defamation lawsuit brought on by Dominion Voting Systems Inc. What remains unknown is Carlson’s next move, and whether he will take his audience with him.

Carlson ascended to one of Fox News’ top-performing shows after the exit of Megyn Kelly in 2017, who had previously hosted the network’s popular show “The Kelly File.” Following Carlson's exit, Kelly said on her SiriusXM podcast that “Tucker’s the only reason a lot of people still watch Fox News.”