At the end of March, Stacey blogged about the problems plaguing CNN+ right after its launch. Employees already expected layoffs while it offered 50% off its service for life.
Well, CNN+’s uphill battle took a hit from an avalanche.
CNN wanted “to invest around $1 billion” in CNN+ over four years. It already put in $300 million.
CNN+ has fewer than 10,000 viewers a day. TEN THOUSAND. CNN bosses thought CNN+ would have two million subscribers after its first year. From CNBC:
But there is broad skepticism whether there’s enough demand to sustain a stand-alone news streaming service, with entertainment-first options dominating the landscape. Disney+, for instance, posted more than 10 million subscribers on its first day.
CNN hasn’t released an exact number of CNN+ subscribers. Disney’s ESPN+, which offers sports news programming in addition to live event broadcasts, recently reported 21.3 million subscribers. NBCUniversal’s Peacock, which features news programming, reported 24.5 million monthly active accounts in the U.S., more than 9 million of which were paid members. (ESPN+ charges $6.99 a month and Peacock offers premium tiers starting at $4.99 a month.)
The network hasn’t released the numbers. People within CNN told CNBC the viewership numbers.
I have no idea where they got that number because CNN averages 773,000 a day. So the 10,000 number isn’t that surprising.
The numbers mean CNN will likely cut “[H]hundreds of millions of dollars” from the original investment.
CNN+ came out two weeks ago. The new leadership team “has yet to decide the ultimate fate of CNN+” New CEO Chris Licht begins his job on May 1.
WarnerMedia and Discovery recently came together to form Warner Bros. Discovery. That CEO, David Zaslav, said he needs “to see how the application performed before deciding on any next moves.”
It’s doubtful Warner Bros. Discovery will drop the streaming service. They could offer CNN+ with a package containing HBO Max and Discovery+.
It’s so weird. The Daily Wire has about 600,000 subscribers. Conservative news is growing while places like CNN fall apart.DONATE
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