CNN+ launch ‘disaster’
April 20, 2022
By Chris Forrester
CNN+, the premium pay-service from the global news broadcaster, is suffering despite launching just some three weeks ago.
CNN’s long-time CFO Brad Ferrier (since 1995) has been laid off, and all marketing spend cancelled according to local reports. Ferrier has been replaced by Discovery’s CFO for streaming, Neil Chugani.
The changes come with rumours that CNN+ has gained only 150,000 subscribers, and even that number is not using it daily with fewer than 10,000 reported to be dipping in everyday, according to CNBC.
CNN+ is charging $5.99 a month for its service and widespread reports suggest that the launch budget was some $300 million with a – pre-merger plan to invest $1 billion over 4 years.
CNN is now part of Warner Bros Discovery.