(Fwrd Axis) — Warner Bros. Discovery announced Thursday it is shutting down CNN+ just three weeks after the streaming service.
CNN+ will cease operations on April 30th, marking just 32 days the streaming service was active. A report from CNBC stated the streaming service only pulled in just 10,000 daily users, much lower than the company was anticipating.
Reports suggest there may be hundreds of layoffs and Andrew Morse, the executive vice president of CNN+, is expected to depart after a transition period. CNN invested hundreds of millions of dollars into the project, recruiting big-name journalists such as Kasie Hunt from NBC and Chris Wallace from Fox News.
CNN+ customers “will receive prorated refunds of subscription fees,” the company said.
“In a complex streaming market, consumers want simplicity and an all-in service which provides a better experience and more value than stand-alone offerings, and, for the company, a more sustainable business model to drive our future investments in great journalism and storytelling,” Discovery’s streaming boss J.B. Perrette said in a statement.
“We have very exciting opportunities ahead in the streaming space and CNN, one of the world’s premier reputational assets, will play an important role there,” Perrette added.
Some programming may continue on Warner Bros. Discovery CEO David Zaslav has previously said he plans to merge all of the company’s brands under one streaming service while other programming will shift to CNN’s main channel.
The streaming service featured hours of daily live programming and weekly shows, which will continue until the end of the month.
Reports of staffers being unhappy and worried about their future surfaced once the news became official.
“All employees will continue to be paid and receive benefits for the next 90 days to explore opportunities at CNN, CNN Digital and elsewhere in the Warner Bros. Discovery family,” an internal memo read.
