The Morning After: CNN+ is shutting down
CNN+, the streaming service launched by the Cable News Network just three weeks ago, is shutting down on April 30th. The closure comes after reports that the high-profile project had reached just 10,000 daily users. It didn’t help that WarnerMedia is merging with Discovery with the explicit aim of consolidating their streaming services into one cohesive whole.
The service, which reportedly cost around $100 million to launch, will have survived for just 32 days, stealing Quibi’s title for most notorious and swift closure. CNN said at-risk employees will receive 90 days salary and benefits and get opportunities to move elsewhere within the Warner Bros. Discovery empire.
On one hand, it always seemed like a stretch to ask people to pay Netflix-level prices for even premium cable news. With the exception of blue-chip brands like NYT and WSJ, or the mega billionaire-backed Washington Post, paid-for journalism has been totally undermined. On the other hand, it’s a shame to see something bold and potentially paradigm-shifting “do a Quibi” so quickly.
— Dan Cooper
