CNN+ launched just days ago, but reports are already circulating that the network will soon face layoffs for paid subscribers.
An NPR interview transcript from Tuesday shows the launch of the streaming service being described as “an historic day for CNN.”
Fox Business News reporter Charles Gasparino tweeted on Wednesday that Fox employees had begun to prepare for downsizing.
“[CNN+] employees bracing for layoffs possibly as soon as May amid projections of lackluster sales of new streaming channel,” tweeted Gasparino.
Breaking: @CNNplusEmployees are being warned that they could lose their jobs as early as May, due to low sales projections for the new streaming channel. CNN employees believe the new streaming channel might be combined into a larger entity. @discoveryplusIf you don’t subscribe to 130, it will be as soon as May @FoxBusiness
— Charles Gasparino (@CGasparino) March 30, 2022
RELATED: CNN’s Brian Stelter Visits New York Classroom Where School Kids Are Learning About Misinformation
CNN Responses Are Vague
CNN+, according to the Daily Mail is worth $120 million. The network also notes that reports about possible layoffs have not been denied by them.
CNN officials, they report, “rebuked statements that the launch of their streaming service was unsuccessful” but were unwilling to “provide information on how many subscribers” they have and did not “deny that possible layoffs were in store in the near future.”
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Were it a roaring success, wouldn’t those numbers have been readily publicized and layoffs called out of the question?
CNN Head of Strategic Communications Matt Dornic replied to Gasparino’s tweet suggesting everything at the new service is going swimmingly.
“For the record, we are VERY happy with the launch of CNN+ and are only bracing for a long run of success,” Dornic wrote.
We are very happy about the launch of CNN+, and we look forward to a long period of success.
— Matt Dornic (@mdornic) March 30, 2022
RELATED: ‘Beyond Parody’: CNN Announces They’re Hiring Team To Cover ‘Misinformation’
Hiring a ‘Misinformation’ Team
It’s difficult to fathom how a network going through executive turmoil and unable to attract ratings on their main network thought launching a subscription service was going to work out.
You don’t have to pay anything for misinformation, it is free and available in all airports throughout the country.
Success is not measured by layoffs during the first month. #RIPCNNPLUS
— Tony FJB Bruno (@TonyBrunoShow) March 30, 2022
The top talent in the subscription program includes Eva Longoria, Jemele and Chris Wallace (ex-Fox News hosts).
Imagine Wallace as a prominent figure on a network with a strong ratings record for years. But, it ends up being a backbench subscriber service for CNN, which could be dead long before it begins.
Cotton, a bold career move
Who would have thought that the public would be willing to pay? #CNNPlusWant to see more of what isn’t on your basic cable television? @CNNRatings are in dire straits. It is astonishing that CNN has already begun considering layoffs of employees just 24 hours after CNN+ was launched.
— MarkHyman (@MarkHyman) March 31, 2022
CNN+ perhaps saw the writing on the wall when, earlier this month, they tried enticing subscribers with a “deal of a lifetime” – 50% off the subscription costs.
They also offered to sell the first 29 seconds of its live-streaming debut as NFTs which is … hilarious.
CNN+’s Live Streaming Launch to Be Sold as NFTs https://t.co/25ikWoz24Z
— The Hollywood Reporter (@THR) March 30, 2022
CNN Business Managing Editor Alex Koppelman announced on Twitter earlier this year that the network was hiring a team that will be dedicated to covering ‘misinformation.’
Hello Twitter! We have some exciting MEDIA JOBS for you to share with you. I’m hiring 3 people for a new CNN team dedicated to covering misinformation. The thread about the jobs/team starts here. Please feel free to share far and wide, and if you’re interested, reach out or apply at the links.
— Alex Koppelman (@AlexKoppelman) January 18, 2022
They might not have wasted so much time spreading misinformation about their clients. Network principal over the last several years, the subscription service wouldn’t be having such a hard time treading water right now.