As you know by now, WarnerMedia Discovery has pulled the plug on CNN+, which will close down less than a month after it launched. CNBC reported that in its second week, CNN+ was reaching fewer than 10,000 people daily. Axios has a scoop on an internal CNN+ pitch deck that predicted that the paid CNN+ would eventually draw more viewers than the cable TV offering.
SCOOP: CNN+ execs projected that within the next decade, CNN+ would be more profitable than the company's cable arm today, according to data from a March '22 pitch deck. https://t.co/vv2QAHLDfL pic.twitter.com/b9TWsLFYHI
— Axios (@axios) April 26, 2022
Two billion dollars in revenue by 2030.
According to Axios, executives assumed they had a pool of 29 million “CNN super fans” to draw from. CNN executives apparently took it as a success when CNN+ had garnered 150,000 subscriptions two weeks from launch, but the new owners disagreed.
LMAOOOO so CNN+ executives planned on 29 million “CNN super fans” in order to be successful, even though they average fewer than a million viewers?? pic.twitter.com/7MdPsE2klD
— Comfortably Smug (@ComfortablySmug) April 26, 2022
“… CNN finished third with an average total audience of less than a million viewers: 857,000 viewers, down a staggering 56% from 2021.”
I wonder how many Breaking Mysterious Missing Airliner Stories went into that calculation
— David Burge (@iowahawkblog) April 26, 2022
Someone got SOLD on that BS
— Peekaso (@peekaso) April 26, 2022
The argument fails at “fans”
— JPH (@jheidmann) April 26, 2022
Is there any possibility CNN+ was designed to fail for tax purposes or something of the sort?
— Hoygoo (@HoyGoo) April 26, 2022
Echo chamber and faulty surveys.
— Joe (@joehenkels) April 26, 2022
This had to have been an elaborate money laundering scam.
— Muscles McSexington (@MMcsexington) April 26, 2022
No way this could have happened like this. Looks to me that this was going to be a money laundering scheme for leftist politicians and journalists. The first domino fell when Cuomo was fired. He pulled the whole thing down.
— Oklahoma_Kid (@OklahomaKid3) April 26, 2022
McKinsey & Company did the world an excellent service and lured CNN+ into a trap from which they could not recover.
All hail the management consultants, America's true heroes. pic.twitter.com/qqIm47x5Hn
— MicDre (@dremicdre) April 26, 2022
So, the plan was that all the people that never watch them would suddenly pay to watch them. Do I have that right?
— Bill Brokob (@billbrokob) April 26, 2022
That's some high level delusion right there, the bubble is real.
— Unseat The Rinos (@Unseat_The_Dems) April 26, 2022
They must smoke the best weed ever grown
— Phil Harrell (@PhilH714) April 26, 2022
CNBC reports that CNN+ is drawing fewer than 10,000 daily viewers https://t.co/Lrx62cLwfY
— Twitchy Team (@TwitchyTeam) April 12, 2022