- Fewer than 10,000 people have watched Warner Bros.Discovery Inc's (NASDAQ:WBD) streaming service CNN+ daily since its March 29 launch, CNBC reports.
- Warner Bros. Discovery looks to cut hundreds of millions of investment dollars for the service, given concern over its future.
- Incoming CNN chief Chris Licht will join Warner Bros. Discovery on May 1.
- Also Read: Analysts Give Thumbs Up To This Newly Formed Media Giant; Compare It To Disney
- The negligible viewership cast doubts on the future of alone news streaming services when entertainment-first options dominated the landscape. The Walt Disney Co's (NYSE:DIS) Disney+ posted over 10 million subscribers on its first day.
- CNN's cable network suffered a significant decline in viewership last year but averaged 773,000 total viewers each day.
- CNN+ lured big-name talent from rival news networks like Kasie Hunt from NBC News and Chris Wallace from Fox News.
- Warner Bros. Discovery CEO David Zaslav was open to offering CNN+ programming as a more extensive bundled HBO Max and Discovery+ offering, which boasted millions of subscribers.
- Price Action: WBD shares traded higher by 5.19% at $25.96 on the last check Wednesday.
