Shares of Newsmax (NMAX, Financials) rose 8.87% to $48.99 as of 11:35 a.m. Eastern on Monday after the company reported a 50% increase in first-quarter 2025 viewership from the same period last year, reaching 33.6 million viewers, according to Nielsen.

The Boca Raton-based media company also posted a 15% quarter-over-quarter increase from the fourth quarter of 2024, when viewership totaled 29.3 million. The surge in audience comes amid a broader decline in traditional cable news consumption.

Nielsen ranked Newsmax as the fourth most-watched cable news channel in the United States during the first quarter. The company recently began trading publicly on the New York Stock Exchange under the ticker symbol NMAX, following a $300 million capital raise from its initial public offering and preferred share sale.

Jason Villar, vice president of media and market research at Newsmax, said such growth is rare in the cable news industry and reflects strong demand for the companys content.

Newsmax said it plans to expand its reach across the flagship Newsmax channel, digital platform Newsmax2, and streaming service Newsmax+. The company said its combined media properties including its app, website, and magazine now reach over 40 million Americans.

Newsmax was founded in 1998 by journalist Christopher Ruddy and is headquartered in Boca Raton, with offices in Washington, D.C., and New York City. The company did not release financial figures or guidance in the announcement.