No, we're not going on a Project Runway tear (though I'm sure we'll post the ratings tomorrow if we see them), but Joe Flint at the LA Times has a good story on what Project Runway means for Lifetime:
A lot is riding on this for Lifetime, which needs "Project Runway" and its stars Tim Gunn and Heidi Klum to bring in a big young audience for its investment to pay off. According to Nielsen Media Research, Lifetime's prime-time audience has fallen in the last six years from an average of 1.7 million viewers in 2004 to 1.2 million this year, a drop of almost 30%. Among women ages 18 to 49 during the same period, the drop is 33% and for women ages 25 to 54 Lifetime is down 37%. The channel's median age has been hovering at 50 during that time.