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Benzinga
Benzinga
Technology
Anusuya Lahiri

CNN's News Streaming Service Struggles To Attract Viewers, Casting Doubt Over Its Future

  • 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.
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