CNN launched its new streaming service CNN Plus this week and there are already signs that it is struggling.
It’s not surprising. CNN struggles to get viewers for their news channel, who would want to pay extra for their streaming service?
There are already rumors of layoffs.
The Daily Mail reports:
CNN refuses to deny report that there will be job cuts as soon as May at CNN+ due to low subscriptions just a day after the streaming service launched
CNN refused to deny a report that the company is bracing for layoffs as soon as May due to subpar subscription signups for its brand new CNN+ streaming service.
Fox Business Network’s Charles Gasparino reported on Wednesday that CNN+, a $120 million venture that launched yesterday, is already failing and may not survive on its own for much longer.
‘CNN + employees bracing for layoffs possibly as soon as May amid projections of lackluster sales of new streaming channel; CNN employees say new streaming channel could be merged into larger Discovery+ as early as May unless subscriptions pick up,’ Gasparino wrote on Twitter.
CNN officials rebuked statements that the launch of their streaming service was unsuccessful, but did not provide information oh how many subscribers CNN+ currently has nor deny that possible layoffs were in store in the near future.
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‘We are very happy with the launch of CNN+ and look forward to its long success ahead,’ a CNN spokesperson told DailyMail.com.
See the tweets below:
Breaking: @CNNplus employees bracing for layoffs possibly as soon as May amid projections of lackluster sales of new streaming channel; CNN employees say new streaming channel could be merged into larger @discoveryplus as early as May unless subscriptions pick up 130 @FoxBusiness
— Charles Gasparino (@CGasparino) March 30, 2022
For the record, we are VERY happy with the launch of CNN+ and are only bracing for a long run of success.
— Matt Dornic (@mdornic) March 30, 2022
We will know the truth if CNN Plus is still around in a few months.