REPORT: CNN’s New Streaming Service CNN+ May Be ‘Doomed’

CNN’s new streaming service CNN+ has been struggling from the moment it launched just a few weeks ago.

The network spent millions upon million of dollars not only building the service but staffing it and marketing it.

Now it already looks like it might not make it much longer.

Axios reports:

Scoop: CNN+ looks doomed

Warner Bros. Discovery has suspended all external marketing spend for CNN+ and has laid off CNN’s longtime chief financial officer as it weighs what to do with the subscription streaming service moving forward, five sources tell Axios.

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Why it matters: Inside CNN, executives think the launch has been successful. Discovery executives disagree.

– CNN+ has roughly 150,000 subscribers so far.

– Warner Bros. Discovery wants to eventually build one giant service around HBO Max.

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– New leadership has replaced CNN CFO Brad Ferrer with Neil Chugani, Discovery’s current CFO for streaming and international, as part of a broader finance team restructuring.

– Other high-level positions at WarnerMedia across different business functions are likely to be eliminated to cut costs and streamline leadership in coming weeks.

What to watch: Sources say a plan is being considered to replace Chris Cuomo’s 9:00pm EST primetime slot with a live newscast, instead of personality-driven perspective programming…

Executives are frustrated that new leadership is moving quickly to dismantle what they see as an eventual lifeline for the cable network.

Some people are saying that they’ve already suspended marketing.

There are individual YouTube Users who get more traffic than this.

Imagine how Chris Wallace must feel.

He left FOX News for this.

 

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