Less than a month ago, we told you about CNN’s idea to create a news streaming service called CNN+ and now we’re hearing it is shutting down in mere days.
That’s right the “Netflix for news,” as it was touted upon launch, will be closed at the end of April.
The move comes on the heels of the recent merger of WarnerMedia and Discovery, which has combined to become Warner Bros. Discovery. The management of the newly combined company thinks this wasn’t a good idea in the first place.
CNN CEO Chris Licht said that employees “will continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital and elsewhere in the Warner Bros. Discovery family.” However, he added that hundreds of employees could potentially lose their jobs, though they will receive a minimum of six months of severance pay.
CNN+ launched at the end of March offering daily newscasts, live and on-demand content, interactive interviews, and more — for $6 per month. Those who paid for the service will receive prorated refunds of their subscription fees following the shutdown. According to the CNBC report, less than 10,000 viewers used the platform on a daily basis.
That being said, we should add that Discovery’s streaming boss J.B. Perrette said he remains hopeful for CNN’s success in the streaming space.
“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,” he said.
CNN+ content will continue to be available on the platform until the shutdown. So if you paid for it, you’ll have a few more days to enjoy all the news you want. And then move on to another streaming platform.