CNN's bold new strategies include streaming news service, "major" pivot to video

As if watching CNN wasn’t enough to give you deja vu these days, the cable news network has announced development on its own streaming service… again. You may remember this has already been attempted: it was called “CNN+” and it was only available for one month in 2022. (That’s even shorter than Quibi.) But maybe this time it will work out!

Back in the day, there was chatter that the launch of CNN+ was stepping on the toes of the Warner Bros. Discovery merger; the newly united company had its own streaming plans, which became Max, which later added CNN. But CNN Max “is not a complete answer to the future of the great linear CNN experience,” CNN CEO Mark Thompson said in a memo to staffers on Thursday (via The Verge). “Today, I can announce that we plan to develop a new way for digital subscribers at home and abroad to stream news programming from us on any device they choose,” Thompson wrote. “It’s early days but we’ve already established that there’s immense demand for it not just in America but across much of the world. We’ll have more to say about this new digital product in the coming months, including content plans and how we will work with our existing and future distribution partners to bring this to market.”

Apparently Thompson never heard the old saying about learning history or being doomed to repeat it, because another of his newly announced strategies for the company includes “further major pivot to digital video.” (Anyone else just feel a cold chill run down their spine?) Other plans on the digital side include “the development and launch of CNN’s first lifestyle-oriented digital product, working with News to innovate in our multimedia storytelling capabilities, and creating new premium digital ad experiences to drive sustainable and scalable advertising revenue.”

The announcement of these forward thinking plans (that just so happen to look a lot like old plans) coincides with reports that CNN will soon lay off hundreds of employees. Thompson said in his memo that despite the planned layoff of 6% of the workforce, “we don’t expect total headcount to fall much this year, if at all.” A $70 million investment in digital from parent company WBD will reportedly go in part to creating new positions going forward.