The Failure of CNN+
The New York Times is out with a piece about the very short life of CNN+.
The Times calls CNN+ “one of the most spectacular media failures in years.”
The $300 million experiment that ended abruptly with layoffs in the offing and careers in disarray. The corporate tug of war over its fate exposed deep philosophical divides about the future of digital media, as executives struggle to navigate a rapidly changing marketplace where technology and consumer habits shift day to day.
CNN is now under the ownership of Discovery and Chris Litch will soon step into the role that was held by the disgraced Jeff Zucker.
Licht has a giant job in front of him.
CNN must now emerge from one of the most chaotic periods in its history: the firing of its top-rated anchor Chris Cuomo; the ouster of Zucker over an undisclosed romance with a colleague.
It was clear at CNN+ was never going to be a success and the fact that Discovery and Licht pulled the plug so quickly was a wise move instead of putting the money and resources into something that was never going to work.
The Times writes that supporters of CNN+ lamented that the streaming service was not given much of a chance, and argued that the decision was harmful to the CNN brand, a misstep that would leave the network unprepared for a future where few Americans still watch cable TV.
Between Jeff Zucker, Chris Cuomo and others, the CNN brand has been harmed about as much as possible.
It’s now up to Chris Licht and Discovery to see if the brand can be repaired?
Stay tuned…
H/T New York Times