In the past few years, streaming services saw a surge in user base. So, many media companies launched their streaming services to get a pie of the market. WarnerMedia also launched the CNN+ streaming service on March 29. A few weeks after the launch, now the company has decided to shut it down. CNN+ will shut down entirely on April 30th.
CNN+ head Andrew Morse is also leaving Warner Bros.
“This is not a decision about quality; we appreciate all of the work, ambition, and creativity that went into building CNN+, an organization with terrific talent and compelling programming,” Chris Licht, chairman and CEO of CNN Worldwide, said in a statement.
As per reports, CNN planned to spend around $1 billion on CNN+ and has already invested more than $100 million. But the initial response was not up to the market. Axios reported that only about 150,000 people had signed up for the $5.99-a-month service and the service only had fewer than 10,000 daily active viewers.
Everyone is surprised to see such a short life of CNN+. The company could have given it a few more months.
