At one time, the fake news media had a monopoly on what the American people heard about from around the world. How the mighty have fallen.
CNN’s new subscription streaming platform CNN+ has come up short of expectations attracting only 10,000 users daily, TheBlaze reported. The cable news company’s service launched on March 29 to much fanfare.
The hope was that the streaming service would be a powerhouse as an extension of the legacy media system. The company projected it would attract 2 million users in the first year with increased subscribership to as many as 18 million users in year five.
The cost for a subscription is on par with other streaming services costing $59.99 per year or $5.99 per month. As of its debut, CNN+ was available on Apple and Android products as well as Amazon Fire TV. Later, Roku was added though AndroidTV still doesn’t support the service.
Unfortunately, it hasn’t panned out the way they planned. The cable network sunk a reported $300 million into building and marketing CNN+ and created hype with the promise of top-tier talent hired from its competitors.
CNN acquired Fox News’ Chris Wallace and MSNBC’s Kasie Hunt in the hopes of capturing a built-in audience. Instead, the previously planned $1 billion investment in CNN+ has been scaled back significantly while employees prepare for layoffs, according to company insiders. The “lackluster” response has executives reading the writing on the wall.
By contrast, Netflix has over 75 million subscribers in North America and 22 million worldwide. Disney+ attracted 10 million subscribers the day it launched in 2019 and now has more than 10 times that amount in paid members. CNN+ did not disclose how many subscribers it had despite the reports of the dismal turnout.
The reason CNN+ is floundering is that the network has no credibility after years of witch hunts against Republicans like former President Donald Trump. It’s clear that even the people that already watch the network are not willing to shell out more money for the subpar experience.