Move over, Quibi – we’ve got a new champion for the biggest flop of the streaming era.
CNN announced Thursday that its CNN+ streaming service would shut down on April 30th – barely a month after its launch on March 29th.
It’s a huge loss for CNN, which reportedly sunk over $100 million into launching the service, bringing in celebrities like Eva Longoria and Chris Wallace and adding new shows for personalities like Anderson Cooper and Jake Tapper.
In a memo, network president Chris Licht wrote “While today’s decision is incredibly difficult, it is the right one for the long-term success of CNN”.
Just one month after having a buzzy launch, CNN+ is shutting down.
The decision to shut down CNN’s subscription offshoot aligns with Warner Bros. Discovery’s direct-to-consumer strategy, according to the memo sent by CNN’s incoming CEO Chris Licht. https://t.co/0uB4ysaIIO
— NPR (@NPR) April 21, 2022