CNN has launched their new streaming platform, CNN+. According to The Daily Wire, the platform has failed to see 10,000 daily active users.
“Fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence,” CNBC reported. “To put that daily user number in perspective, CNN’s cable network suffered a sharp decline in viewership last year but still rang up an average of 773,000 total viewers a day.”
Axios reports that CNN was planning on investing $1 billion in new content on the streaming platform.
“The news giant was initially planning to invest around $1 billion in the service over the next four years,” Axios reported. “CNN executives, with help from consulting firm McKinsey, originally expected to bring in around 2 million subscribers in the U.S. in the service’s first year and 15-18 million after four years.”
With the streaming platform starting on a rocky path, the budget for CNN+ could see hundreds of dollars cut from the projected $1 billion budget.
“They originally planned for the service to break even after four years,” the report added. “Much of the subscriber opportunity executives see comes from international markets.”
With alternative news sources like The Daily Wire getting nearly 1 million paid subscribers, CNN+ has a large mountain to climb.