By the numbers: The news giant was initially planning to invest around $1 billion in the service over the next four years. Hundreds of millions of dollars are expected to be cut from that original investment total.
To date, around $300 million has been spent on the subscription service, which includes a sizable marketing investment. The new company’s leadership team still has yet to decide the ultimate fate of CNN+. CNN’s new boss, Chris Licht, will start May 1. So, why did this happen?
The company bigwigs made a huge mistake by actually thinking people would PAY for CNN.
THEY… THOUGHT… PEOPLE… WOULD… PAY… FOR… CNN https://t.co/fzZr3j8Ony
— Greg Price (@greg_price11) April 12, 2022
You can’t take the same untrusted, unlikeable “talent” that’s been accused of peddling fake news for years and place them on a “streaming” service and expect people who wouldn’t watch for free, to pay to watch.