U.S. broadcast TV networks have always been engulfed in a ratings race, always trying to win the title of “America’s Most Watched Network.” Last week the ratings results of the 2008-2009 broadcast television season came in. Out of the “big four” networks CBS was the clear winner, with growth in total viewers and across all key demos. MyNetworkTV (MNT) saw the most growth, mostly as a result of the popularity of WWF Smackdown. Univision (UNI) also saw growth in total viewers and the 18-49 demographic, but slightly lost younger viewers in the 18-34 demo. I couldn’t get data on Telemundo and I’m curious about how they grew this season across the same demo categories.

While the CW had the worst stats, it seems in terms of media coverage that NBC is faring the worst. Interviewed at the All Things Digital Conference NBC Universal CEO Jeff Zucker admits that “NBC primetime has had four very difficult years.” The following chart illustrates just how much NBC’s stature has fallen in recent years.

Is this the bottom for the Peacock Network and could the it be on the verge of a comeback next season? Depends on whether you think it has to do with ratings or profitability.

NBC changed about 70% of their primetime programming; the biggest change is programming Jay Leno five nights a week at 10:00 p.m. The move is considered by some industry veterans to be nothing short of capitulation. NBC is touting Jay Leno’s show as viable alternative programming with a low price tag and a high resistance to DVR viewing. The lower cost results in a lower ratings threshold The show would be considered a success, as Jeff Zucker said, if it hits a 1.8 rating in the 18-49 demo, something far below the broadcast norm for the same time slot. Perhaps if the show makes their ratings objective, NBC will happily remain trailing the ratings race, and still consider themselves a success.