if it bleeds it leads

basically means that the media loves violence. television, radio, and film will for the most part have much higher ratings if it's about a bunch of people getting murdered rather than something nice, like somebody saving a cat from a tree. ultimately, it's a statement about america's fascination with violence.

Johnny: you watch the news today? it was awesome, 500 people got their heads chopped off!

Tommy: hey, if it bleeds it leads.

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