CNN+ Subscription Service "Doomed"
Warner Bros. has paused all external marketing and have let go of the Chief Financial Officer for CNN+ as it decides what to do about the failing subscription service.
This comes after CNN has spent somewhere around $300 million of a promised $1 billion investment into the CNN+ product.
There is a huge disconnect between CNN executives who believe the launch has been successful and Discovery executives who disagree.
The CNN+ product has only attracted roughly 150,000 subscribers so far.
It is likely that other high-level positions at WarnerMedia will be eliminated across different business functions to save money.
CNN continues to feel the pinch of dropping viewership. Even the once highly-touted Chris Cuomo's 9:00pm primetime slot is going to be replaced with a live newscast, instead of personality-driven perspective programming.
Fischer has a good point, when ownership stops the marketing dollars to any product, it's the death of that particular product.
Apparently the technical roll-out of the service went smoothly. It's just that people are not willing to actually pay for any CNN products.