CNN+ Streaming Service Shutters Just A Month After Launch
Last month, CNN announced it would be launching a news and entertainment streaming service, CNN+, which would allow subscribers to snag a discounted price of US$2.99 a month if they signed up within its first four weeks of launch.
Unfortunately, it seems that even the lure of a deal couldn’t draw nearly enough customers, as the service recently reported it will be shuttering on April 30, just a month after its debut.
CNBC noted that the offering had fewer than 10,000 daily active viewers two weeks after its launch.
According to CNN, the decision was made by new management that took over when WarnerMedia, its former parent company, merged with Discovery to form Warner Bros Discovery earlier this month.
If you’ve subscribed, don’t fret, as the company has promised you’ll “receive prorated refunds of subscription fees.”
“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, and, for the company, a more sustainable business model to drive our future investments in great journalism and storytelling,” said Discovery’s Head of Streaming, JB Perrette.
“We have very exciting opportunities ahead in the streaming space and CNN, one of the world’s premier reputational assets, will play an important role there,” he promised.
During a meeting this week, it was reported that CNN CEO Chris Licht had told employees the sudden closure of CNN+ was a “uniquely s**tty situation,” though he said in an internal memo that staffers will continue to be paid and receive benefits for the next 90 days, and could be offered other positions within the company.
Of course, this still means hundreds of staffers that were employed to work at the streaming service will lose their jobs if they can’t be absorbed elsewhere in the firm.
Hopefully, the famed media network will be able to bounce back with more innovative and engaging offerings in the near future.
