As Twitchy reported earlier Tuesday, it seemed as though CNN might be having some buyers remorse after sinking some $300 million into CNN+, its paid subscription service. Axios reported that dramatic cuts were expected; this comes after Fox Business Network’s Charles Gasparino tweeted at the end of March that employees were bracing for layoffs as soon as May. TechCrunch reported last week that the CNN app added about 18,000 installs on the day of launch.
Sources are telling CNBC that CNN+ is drawing fewer than 10,000 viewers each day.
Fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence, sources tell CNBC, casting doubt on the future of the app following the combination of Discovery & WarnerMedia.https://t.co/20GmjuQafQ
— CNBC Now (@CNBCnow) April 12, 2022
Alex Sherman reports:
Fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence, according to people familiar with the matter.
The people spoke with CNBC on the condition of anonymity in order to discuss nonpublic data.
To put that daily user number in perspective, CNN’s cable network suffered a sharp decline in viewership last year but still rang up an average of 773,000 total viewers a day.
“We continue to be happy with the launch and its progress after only two weeks,” a CNN spokesperson said.
Those numbers are … bad.
— Stephe96 (@Stephe96) April 12, 2022
Still scary there are close to 10,000 that actually DO use this app.
— Eddy Brian (@Eddy_Brian11) April 12, 2022
Wonder how many are employees.
— Clydesdale_Ocr (@swatters4) April 12, 2022
They expected 2 million. 10k? Wow.
Is it to fair to also ask the 10k why would they pay for that service when you can listen to the same people for free?
— MD (@donboscomd) April 12, 2022
Also keep in mind that they cut their subscription price in half and still only got 18k subscriptions.
— Alaskaggressive 🌹🦌🧊🥶 (@MannyShevitz) April 12, 2022
On launch day, CNN+ offered a monthly subscription fee of $2.99 for life, a 50 percent discount.
SOMEONE had to do worse than Peacock.
— Don Allen, Esq. (@ItsDonAllen) April 12, 2022
I don't think they understood how small the echo chamber truly was. Gang of 500 and select friends. Who would pay for MORE cable news?
— Stephen 🇺🇸🇮🇪 (@annagassan) April 12, 2022
I could've told them that thing was gonna be a bust
— Seth (@Crystal_SethLab) April 12, 2022
— GrilledTomatoes (@TomatoesGrilled) April 12, 2022
So just all their employees and family members they forced to get it?
— Rocky Brady (@RockyBrady5) April 12, 2022
Who thought the market for a pay news service was going to be lucrative venture? The streaming market is saturated as it is.
— loonardi (@loonardi) April 12, 2022
It’s not just news … there’s Jake Tapper’s book club, Don Lemon’s talk show, Rex Chapman and Jemele Hill, and Chris Wallace. At least that’s what we’ve been told; we’ve never seen it either.
— Vance Refrigeration (@worldofjordan1) April 12, 2022
10,000? For real?
SAD! CNN’s subscription service CNN+ off to a great start, employees bracing for layoffs as soon as May https://t.co/ZNuae892jD
— Twitchy Team (@TwitchyTeam) March 30, 2022