Fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence, according to people familiar with the matter. The people spoke with CNBC on the condition of anonymity in order to discuss nonpublic data.
“To put that daily user number in perspective, states CNBC, 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.”
“We continue to be happy with the launch and its progress after only two weeks,” a CNN spokesperson said.
CNN sought to make a huge splash with CNN+, luring big-name talent from rival news networks, such as Kasie Hunt from NBC News and Chris Wallace from Fox News. But, states CNBC, “there is broad skepticism whether there’s enough demand to sustain a stand-alone news streaming service, with entertainment-first options dominating the landscape. Disney+, for instance, posted more than 10 million subscribers on its first day.
(Axios reports the $1 billion investment into CNN+ within its first four years is now probably going to be cut significantly “in response to a low adoption rate.” CNN has already spent around $300 million on the service so far, which includes roughly $100 million on marketing.)