CNN Plus is shutting down only a month after it launched
CNN Plus, the news network’s dedicated streaming service, is shutting down before even turning a month old. Chris Licht, the new CEO of CNN, delivered the news to his new team at an all-hands meeting on Thursday, and the service will shut down entirely on April 30th.
Licht congratulated the CNN+ team in a memo to staff announcing the shutdown, and said that the decision “is not a reflection of the quality of the talent and content at CNN+, some of which will migrate to CNN’s programming or some of the company’s other networks.” The decision, he said, was about broader strategy. “In a complex streaming market, consumers want simplicity and an all-in service, which provides a better experience and more value than stand-alone offerings.” Employees will be paid and receive benefits for the next 90 days, he said, and those who don’t end up in other roles at the company will get at least six months’ severance. Andrew Morse, the head of CNN+, is leaving the company.
The network seemed to be doomed from the very beginning. The early subscriber numbers were bleak: Axios reported that about 150,000 people had signed up for the $5.99-a-month service as of this week, while CNBC reported that fewer than 10,000 people were using it on a daily basis. The service launched in the middle of huge turnover at the company, both with Licht’s appointment and with the newly combined Warner Bros. Discovery corporate structure being finalized.
CNN+, the streaming service that was hyped as one of the most signifiant developments in the history of CNN, will shut down on April 30, just one month after it launched. https://t.co/K92mv8qBE7
— CNN (@CNN) April 21, 2022
Executives were reportedly frustrated that CNN Plus launched at all, especially as Warner Bros. Discovery shifts its strategy toward building one massive combined streaming service that includes both HBO Max and Discovery Plus. In that world, CNN Plus likely makes more sense as a feature than a standalone service.
A lot of streaming services have come and gone quickly in recent years, but you’d be hard-pressed to find one with a shorter shelf life than CNN Plus. Verizon’s Go90 lasted a comparatively impressive three years, and even Quibi lasted a bit more than six months.
Developing...
https://www.theverge.com/2022/4/21/23035703/cnn-plus-shutting-down
This story was shared from Big News.