Topline
Since its March 29 launch, CNN’s streaming service CNN+ is being used daily by fewer than 10,000 people, sources familiar with the matter told CNBC on Tuesday, as Axios reported the low user rate will impact its budget and expectations.
(L-R) Chris Wallace and Anderson Cooper attend the CNN+ Launch Event at PEAK NYC Hudson Yards on … [+]
Key Facts
Though CNN+ launched on the CNN app and online last month, the service only launched on Roku on Monday and is not yet available on Android TV, which could be impacting its user numbers.
It’s not clear how many subscribers CNN+ has.
In response to the low user rate, hundreds of millions of dollars are expected to be cut from the streaming service’s budget, which originally included a $1 billion investment from the network over the next four years, sources told Axios on Tuesday.
Roughly $300 million has been spent on CNN+ so far, according to Axios.
The network expected to have 2 million CNN+ users in its first year, and projections will need to be reduced if investments fall, sources told Axios.
WarnerMedia, CNN’s parent company, completed its merger with Discovery on Monday and is now known as Warner Bros. Discovery, Inc.
A CNN spokesperson told Forbes, “We continue to be happy with the launch and its progress after only two weeks.”
Big Number
9 million. That’s how many paid subscribers Peacock, NBCUniversal’s streaming service, had at the end of 2021 after launching in July 2020. The service carries shows and movies in addition to news programming.
Key Background
In 2021, CNN had its second-best year and averaged 773,000 daily viewers. Several big names have joined the new streaming service, including Chris Wallace, who left rival Fox to join CNN+, and chef Alison Roman. The streamer is also the home of expanded CNN content, including a daily version of Brian Stelter’s Sunday show Reliable Sources, and shows with Jake Tapper and Anderson Cooper. The service costs $5.99 per month, or $59.99 a year. It’s rumored that executives will combine HBO Max, Discovery+ and CNN+ into a streaming bundle, similar to the Disney+, ESPN+ and Hulu bundle offered by Disney.
Further Reading
Chris Wallace Leaves Fox News After 18 Years—And Joins CNN+ (Forbes)
Alison Roman Mounts Comeback With CNN+ Cooking Show (Forbes)
Source: https://www.forbes.com/sites/marisadellatto/2022/04/12/cnn-reportedly-getting-fewer-than-10000-daily-users-two-weeks-after-launch/