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It’s Official: After Disastrous Launch, Execs Are Pulling the Plug on CNN+


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CNN’s rating have been circling the drain since Donald Trump left the White House.

Apparently, at least a few big shots at the cable news network believed the addition of a subscription streaming model would help.

Instead of the big launch they had predicted, however, CNN+ fizzled.

This week, news surfaced that the service will soon be canceled entirely.

Even after offering a special deal for early subscribers, the platform struggled to attract paying viewers.

As Tech Crunch reported earlier this month:

CNN+ launched on Tuesday, March 29 and is already showing mediocre results in terms of standalone mobile app installs. Sensor Tower released its initial figures (first reported by Insider) that show the CNN app, which now houses the new streaming service, added about 18,000 installs on the day of launch. During the seven days ending March 22, it had an average of 9,000 installs per day.

CNN’s new service includes a mix of daily news panels and documentaries such as “The Land of the Giants: Titans of Tech,” “The Murdochs: Empire of Influence,” as well as CNN anchors Anderson Cooper, Wolf Blitzer, Don Lemon, Jake Tapper and more.

The subscription only costs $5.99 per month. Plus, CNN is offering a limited-time deal and is giving new subscribers 50% off the standard monthly plan for a lifetime, which is just $2.99 per month.

It didn’t take executives long to realize that they need to cut their losses.

Critics were quick to react to the news.

Adding insult to injury, CNN was left to report on its own spectacular failure:

CNN+, the streaming service that was hyped as one of the most significant developments in the history of CNN, will shut down on April 30, just one month after it launched.

CNN+ customers “will receive prorated refunds of subscription fees,” the company said.

The decision was made by new management after CNN’s former parent company, WarnerMedia, merged with Discovery to form Warner Bros. Discovery earlier this month.

The prior management team’s vision for CNN+ runs counter to Warner Bros. Discovery CEO David Zaslav’s plan to house all of the company’s brands under one streaming service. Some CNN+ programming may eventually live on through that service. Other programming will shift to CNN’s main television network.

“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,” Discovery’s streaming boss J.B. Perrette said in a statement.

Here’s a bit more context regarding why CNN+ was doomed from the start.

Are you glad that CNN+ is shutting down?



 

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