CNN’s streaming platform is failing.
Big cuts are expected to come to CNN+ according to a new report from Axios.
This is due to the low adoption rate according to Axios.
Big cuts coming for CNN+ after slow start https://t.co/eYKkLkoYoq
— Benny (@bennyjohnson) April 12, 2022
Investment and projections for CNN+ are expected to be cut dramatically in response to a low adoption rate, two sources tell Axios.
By the numbers: The news giant was initially planning to invest around $1 billion in the service over the next four years.
Hundreds of millions of dollars are expected to be cut from that original investment total.
To date, around $300 million has been spent on the subscription service, which includes a sizable marketing investment.
The new company’s leadership team still has yet to decide the ultimate fate of CNN+. CNN’s new boss, Chris Licht, will start May 1.
We previously reported layoffs could be coming as well:
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