CNN+ shuts down even faster than Quibi did
A new record has been set in the streaming wars.
Now that CNN's parent company, WarnerMedia, has merged with Discovery to create Warner Bros. Discovery, the new management team of the cable news giant has officially axed the streaming platform CNN+, just a few weeks after it launched. The news was first reported by Variety and then confirmed by CNN itself.
"In a complex streaming market, consumers want simplicity and an all-in service which provides a better experience and more value than stand-alone offerings, and, for the company, a more sustainable business model to drive our future investments in great journalism and storytelling," Discovery streaming executive J.B. Perrette said in a statement.
Until now, the chief example of a failed streaming platform had been Quibi — which took its name from the way it released content in 10-minute installments, or "quick bites." Launched in spring 2020, in the early days of the COVID-19 pandemic, Quibi was shut down six months later and sold its content library to Roku for a fraction of the cost.
But CNN+ — which hosted programs from anchors like Wolf Blitzer, Anderson Cooper, and Jake Tapper — will only have lasted a month when all is said and done. The service will come to an end April 30, with subscribers set to "receive prorated refunds of subscription fees," according to CNN.
The news of CNN+'s demise comes on the heels of reporting earlier this week that streaming champion Netflix lost 200,000 subscribers in the first quarter of this year, its first reported subscription loss in a decade.