CNN is making a renewed push into streaming, announcing plans for a new service just three years after shutting down its previous attempt, CNN+.
In an internal memo, CEO Mark Thompson revealed the company's intention to provide viewers with seamless access to its news programming across various devices. While specifics remain scarce, the announcement indicates a significant shift in CNN's digital strategy.
A Second Chance at Streaming
The launch of CNN+ in 2022 was met with short-lived success, ultimately leading to its closure within a month. This time around, Thompson emphasizes the substantial demand for a dedicated streaming platform, not just domestically but also internationally.
He acknowledged that the project is still in its early stages, promising further details on content plans and distribution strategies in the coming months.
Beyond Streaming: A Digital Pivot
CNN's ambitions extend beyond a new streaming service. The company will also unveil its first lifestyle-oriented digital product and initiate a major shift towards digital video.
These strategic moves will be accompanied by a reduction in workforce, with approximately 200 employees (six percent of the total) facing layoffs. However, this figure is expected to be offset by a $70 million investment from parent company Warner Bros. Discovery.
The Evolving Media Landscape
CNN's return to streaming reflects the broader industry trend of shifting towards digital platforms. As linear television struggles to maintain viewership, major networks are increasingly investing in streaming services.
CNN recently implemented a paywall for select articles, joining other news outlets like CNBC, which launched its own subscription service, CNBC+.
Conclusion
CNN's announcement marks a significant step in its digital transformation. The new streaming service, coupled with a focus on digital video and a revamped digital product strategy, aims to position the network for success in the evolving media landscape.
While challenges remain, the company's renewed commitment to streaming and its significant investment from Warner Bros. Discovery suggest a determination to capitalize on the growing demand for digital news consumption.
Post a Comment