(as a mass medium, anyway)
From the Washington Post: “In fact, just one of the 13 shows that divvied up the 27 Emmys attained, in the course of the TV season, as many viewers as did Sunday’s Emmy broadcast. That one show was ABC’s own broadcast of February’s Academy Awards ceremony, which clocked nearly 44 million viewers; it was named best directed variety, music or comedy program.”
In other words, the biggest audience went to the show about the shows (same way Google has a far bigger audience than any of the sites it points to). And the Emmy’s had their second lowest ratings in recent history.