Two big announcements from CNN on Wednesday. First, the far-left conspiracy media outlet announced it was cutting about 100 staff. Second, do not have Announced is the launch of a CNN streaming subscription service. In return, CNNLOL will launch several free streaming channels, namely “Free Ad-Supported Streaming TV” (FAST).
You see, CNN knows that no one pays the price for their lies.
CNN’s disgraced CEO, Mark Thompson, announced company-wide cuts and the launch of the FAST channel. Note:
Thompson also announced that CNN.com will launch its first subscription product later this year, which he said will be “you want to consume” content anchored in lifestyle journalism and is part of a broader effort to build a $1 billion business.
He also announced the launch of additional FAST channels: CNN Originals and CNN en Espanol will debut later this year. These will be in addition to the CNN and CNN International FAST channels.
So CNN will try to save itself in the same way. The New York Times By offering lifestyle subscriptions… No one subscribes to fake news, so these fake media outlets have to offer something entirely different to survive.
Regarding the job cuts, Thompson wrote:
Wherever possible, we have been closing open positions rather than targeting currently filled roles. However, some of our colleagues will learn today that their jobs will disappear or are at risk of disappearing. The number of colleagues potentially affected is approximately 100 out of our more than 3,500 employees, but I do not want to underestimate the impact this news will have on everyone affected, and I want to thank my colleagues for their many years of service to this great news company.
The slow decline of cable and satellite television made this inevitable.
Very few people watch CNN, which means hate outlets cannot survive on advertising alone. The only reason CNN stays on the air is because of what are called broadcast fees. If CNN is part of your cable/satellite package, you are paying for CNN whether you watch it or not.
But now, as tens of millions of people cancel their cable and satellite packages and move to streaming, CNNLOL is losing tens, if not hundreds, of millions of dollars a year in lost revenue. And it’s only getting worse.
And let’s not forget that CNN’s attempt to launch a subscription streaming service was shut down after less than a month.
So CNN admitted that it would try to survive with a subscription platform based on “lifestyle journalism.” In other words, No one is going to pay us for political journalism, so let’s write about cooking and travel.
That’s a big surrender.
As for CNN itself, as more and more people cancel their cable/satellite subscriptions, CNN will be subsidized by its parent company, Warner Bros. Discovery, and rather than being a separate streaming service that nobody pays for, CNNLOL will likely be part of the Max package or something like it.
As for the FAST channel, it probably won’t cost much to produce, and I suspect most of its content is already produced by CNN’s main channel.
John Nolte’s first and last novel Borrowed time, Winning 5-Star Rave Reviews Submissions from our everyday readers. You can read excerpts here here And a detailed review here. Also available in hard cover and Kindle and Audiobooks.
