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.
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.
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.
Trending: MEDIA RUMOR: Brian Stelter Is On His Way Out At CNN
– 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.
Just saw on @TeamCavuto that Warner/Discovery have suspended marketing for CNN Plus…
— Prison Mitch (@MidnightMitch) April 19, 2022
There are individual YouTube Users who get more traffic than this.
CNN+ reportedly draws fewer than 10,000 daily viewers https://t.co/TlHtY9Fci6 pic.twitter.com/qEUsFCcpFJ
— New York Post (@nypost) April 12, 2022
CNN Plus should start airing Trump rallies, maybe they’ll finally get some viewers
— George (@BehizyTweets) April 14, 2022
Imagine how Chris Wallace must feel.
He left FOX News for this.