CNN Reintroduces Streaming Service After CNN Plus Shutdown

CNN Revives Streaming Ambitions: A New Service on the Horizon

In a recent internal memo, CNN CEO Mark Thompson revealed plans for a new streaming service that resembles the ill-fated CNN Plus, which was shut down after just one month in 2022. This strategic move is part of a broader restructuring plan aimed at enhancing the network's digital presence and keeping pace with the changing landscape of media consumption.

Aiming for Global Reach

Thompson emphasized the immense demand for streaming news programming not only in the U.S. but also around the world. He stated, "It’s early days, but we’ve already established that there’s immense demand for it not just in America but across much of the world.” Details on whether the new service will replicate the linear channel's offerings or feature original programming remain unclear.

Investments and Changes Ahead

As CNN gears up for this new venture, the network is also set to unveil its "first lifestyle-oriented digital product" along with a significant shift towards digital video. However, with these changes comes the tough reality of layoffs, with CNN planning to cut approximately 200 jobs, accounting for 6% of its workforce. Fortunately, a $70 million investment from its parent company, Warner Bros. Discovery, is expected to mitigate further decreases in total headcount.

Competing in the Streaming Market

The reintroduction of a CNN streaming service underlines the broader trend of linear TV networks transitioning to online streaming formats. In conjunction with these changes, CNN recently announced a paywall for some of its content, marking a significant shift in its revenue model. Other networks, like CNBC, are also exploring subscription-based services, highlighting the industry’s pivot towards digital access.

The Future of CNN Streaming

As CNN prepares to roll out its new service, audience anticipation grows. With competitors like CNBC launching paid plans, CNN is poised to redefine its digital strategy and cater to the increasing demand for flexible, on-demand news programming. More details about CNN's new streaming initiative, including content offerings and strategic partnerships, are expected to be revealed in the coming months.

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