CNN is trying to enter the streaming service market again

CNN is working on a new streaming service that promises to “stream news programming” on any device the user chooses. It’s the standard formula that all streaming services are using these days, so there’s certainly no surprise here.

However, not many know that CNN has tried this before and failed miserably. Three years ago, CNN launched its own streaming service called CNN+, but the news company had to shut it down after just one month (!).

Even though much bigger streaming services added CNN+ to their offering soon after launch, it didn’t manage to gather a healthy number of subscribers to justify its existence. The service was eventually shut down because the owner didn’t think the situation would improve in the long run.

What’s worse is that CNN invested hundreds of millions of dollars into its streaming service and even gone the extra mile to poach popular faces from other networks, such as Chris Wallace from Fox News and Kasie Hunt from NBC. The media company was still forced to shut down CNN+ after just one month.

In an internal memo shared with The Verge, CNN CEO Mark Thompson confirmed that his company is working a new streaming service, which will offer viewers the ability “to stream news programming from us on any device they choose.”

While CNN recognizes that there is a huge demand for news streaming service, Thompson says that his company is not yet ready to share more details about its new digital product, but that we should expect information about content plans and how CNN will work with its existing and future distribution partners in the coming months.

Apart from announcing its upcoming streaming service, CNN revealed plans to lay off six percent of its workforce, which is about 200 employees. Also, the media company confirmed that its executive vice president for digital products, Alex MacCallum, will introduce CNN’s “first lifestyle-oriented digital product” and a “major pivot to digital video.”