San Francisco: Paid news streaming service CNN Plus is shutting down within one month of its launch, as it did not generate enough demand in the news consuming world.
The news streaming service will entirely shut down on April 30.
“CNN+, the streaming service that was hyped as one of the most significant developments in the history of CNN, will shut down on April 30, just one month after it launched,” the media outlet said late on Thursday.
CNN+ customers “will receive prorated refunds of subscription fees”.
Chris Licht, the new CEO of CNN, said that the decision is not a reflection of the quality of the talent and content at CNN+, some of which will migrate to CNN’s programming or some of the company’s other networks”.
“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,” he told employees.
The company planned to spend about $1 billion on CNN+ over a few years, and had spent at least $100 million (and as much as $300 million) into the service, reports The Verge.
Nearly 1,50,000 people had signed up for the $5.99-a-month service, or $59.99 for a year.
According to an earlier CNBC report, the weak response “casts doubt on the future of the application” following the making of Warner Bros Discovery.
According to the report, CNN’s cable network has also suffered a sharp decline in viewership and has an average of 773,000 total viewers per day.
CNN+ features shows from Anderson Cooper, Audie Cornish, and former Fox News anchor Chris Wallace. It also offers interactive Q&A sessions.
(IANS)
