(RepublicanInformer.com)- CNN+ has devolved into a total flop. It’s come to the point that CNN is considering eliminating its investment due to poor results. CNN+’s investment and predictions are projected to be drastically reduced due to the inadequate subscription rate.
Initially, the media conglomerate planned to invest $1 billion in the program over the next four years. Hundreds of millions of dollars are projected to be shaved off the overall outlay. The subscription service has cost roughly $300 million, including significant marketing spending.
CNN+’s final fate is yet to be decided by the new company’s executive team. Chris Licht, CNN’s next president, will take over on May 1.
Chris Wallace, who left Fox News for CNN, is dissatisfied with the situation.
According to editor Jon Nicosia, Wallace has “daily meltdowns” and threatens to resign unless he gets a CNN show. He’s said to be vying for Chris Cuomo’s previous time slot.
This isn’t the first time Wallace’s dissatisfaction with CNN has been mentioned. After CNN President Jeff Zucker quit, Wallace had a tantrum.
“Before, I found it was an environment where I could do my job and feel good about my involvement at Fox. And since November of 2020, that just became unsustainable, increasingly unsustainable as time went on,“ said Chris Wallace.
Fewer than 10,000 people are using CNN+ daily. The subscription news streaming service charges $5.99 a month or $59.99 annually.
In context, CNN’s cable network had a significant drop in viewership last year but still averaged 773,000 total viewers each day.
CNN wanted to make a big statement with CNN+, so it enlisted the “big-name” talent from Fox News, Chris Wallace.
The network Chris left, Fox News, has over 1.5 million viewers daily. Chris gets maybe 1% of that viewership at his tiny little failing platform.
One wonders how that can be “sustainable.”