CNN’s new subscription platform, CNN+, could already be headed for disaster.
The video streaming platform, which officially launched on Tuesday, snagged high-level talent from rival networks, most notably Chris Wallace from Fox News and Kasie Hunt from MSNBC. Actress Eva Longoria also joined the platform and will host a travel show focusing on Mexican cuisine. Many of CNN’s existing talent will also host shows on CNN+.
But what is happening now?
Fox Business senior correspondent Charles Gasparino reported Wednesday that CNN+ employees could already be headed for the chopping block.
According to Gasparino, hype surrounding CNN+ failed to drive subscriptions, which suggests the expensive new start-up is already bleeding cash.
“@CNNplus employees bracing for layoffs possibly as soon as May amid projections of lackluster sales of new streaming channel,” Gasparino reported. “CNN employees say new streaming channel could be merged into larger @discoveryplus as early as May unless subscriptions pick up.”
Lackluster subscriptions would, in fact, prove immediately dangerous for CNN because of the massive investment in the new platform.
Via: The Blaze
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