CNN executives, with the help of the McKinsey consulting firm, thought they would have 2 million subscribers sign up for their new streaming service in the first year with 15 to 18 million in four years, Axios reports. Instead, they had under 10,000.
A consulting firm gave them this advice.
They expected to put about a billion dollars into it in four years but huge cutbacks are in the near future. They spent around $300 million so far.
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Didn’t they notice no one wants to watch their free television? Why would the same people pay to watch it?
The future isn’t decided, other than cutbacks. The new boss, Chris Licht, hasn’t even started yet. He starts May 1.
Hiring is frozen and cuts are in the future.
Even with a major war ongoing, the continued disappearance of MSNBC and CNN's audience is extreme and rapid. The number of viewers under 55 watching MSBNC's prime-time shows is barely 100k or less. These are mid-level YouTube numbers. pic.twitter.com/agrrwSLTe5
— Glenn Greenwald (@ggreenwald) April 12, 2022
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