News and current affairs streaming service CNN+ announces closure just a month after the premiere.
This is not the best week for the TV market. Yesterday, Netflix announced its first loss of subscribers in 10 years, with shares down 47%.
Today the disaster is even greater for CNN+, which will finally close on April 30, just a month after the premiere, according to CNN in Spanish. The reception was very sluggish, but it seems that a month is not enough to decide his fate.
CNN+ was born as news-based paid streaming service. For $5.99 a month, it offered current news, articles, investigations, documentaries, and outreach programs.
According to media such as Axios and CNBC, so far had about 150,000 subscribersalthough daily usage was very low, only 10,000 spectators.
These are bad numbers, but logic dictates that we need to wait a little longer before making a decision to cancel. Especially if large investments have been made. CNN invested between $100 million and $300 million in the project. and budgeted $1,000 million over the next few years.
Even signed celebrity hosts from other networks, such as NBC’s Casey Hunt and Fox News’ Chris Wallace. CNN itself described CNN+ as “the biggest launch since Ted Turner founded CNN in 1980.“.
Despite high expectations, just a month after the premiere the CNN+ streaming platform is shutting down.
As CNN CEO Chris Licht explained, the decision to close It has nothing to do with content quality or subscribers.according to The Verge: “In the complex streaming market, consumers want simplicity and a one-stop service that delivers a better experience and more value than stand-alone offerings.” explains Licht.
CNN+ was launched at a time when it seemed ripe for news platforms, invading Ukraine, but also at a time of chaos for the company: its parent company, Warner, was merging with Discovery Plus.
This merger is complete and it turns out that new directive doesn’t want independent platforms: You want HBO Max and Discovery Plus to come together and have all your content in one place. From that perspective, CNN+ doesn’t make much sense.
CNN+ employees will join CNN or other company networks. CNN+ boss Andrew Morse has resigned and is leaving the company.
Now most likely Much of CNN+’s content is integrated as another channel into HBO Max..
Source: Computer Hoy
