CNN’s new streaming service is reportedly pulling in fewer than 10K daily viewers, and it’s raising concerns that cord-cutters won’t pay for news
Plus isn’t always positive… CNN+ is off to a rough start. The network that invented cable news launched its $6/month subscription streaming service two weeks ago. It went live days before CNN’s parent merged with Discovery to form Warner Bros. Discovery, and it raised questions that the launch may’ve been rushed. Sure enough, early numbers don’t look good:
- Tiny viewership: CNN+ is said to have fewer than 10K daily viewers, making its goal of 2M subscribers in its first year seem far-fetched. Disney+ got 10M subs on its first day.
- Limited programming: The app does not have live news (more on that in a sec). It does have a Jake Tapper-hosted book club and a show about Anderson Cooper navigating parenthood.
- Big cuts: Execs are reportedly planning to slash hundreds of millions from the project’s budget, which was originally $1B.
Stuck in the carriage… As more consumers ditch cable, media OGs have repackaged their content in apps to appeal to the cord-cutting crowd. Discovery+, Disney+, and HBO Max offer the programming those brands are known for — plus extra content (hence all the + signs). But CNN can’t include live news in its app because of “carriage contracts.”
Streaming is fighting subscription fatigue… For news junkies who already pay for cable — or cord-cutters who pay for 12 different TV apps and don’t know Chris Wallace from Chris Hemsworth — CNN+ may feel unnecessary. One possible solution: bundling. Many analysts expect CNN+ to get bundled with other WBD apps like HBO Max and Discovery+ to attract subscribers.