CNN will launch a new subscription streaming service early next year, the network announced Monday.
The new venture, called CNN+, will produce original content aimed at developing an online audience. It will feature eight to twelve hours of live programming daily, the company said.
"This is the most important launch for CNN since Ted Turner launched the network in June of 1980," said chief digital officer Andrew Morse, the executive in charge of CNN+.
Jeff Zucker, chairman of WarnerMedia News and Sports and president of CNN Worldwide, said CNN+ is the result of evolving video news and the start of a new era for the company.
"CNN invented cable news in 1980, defined online news in 1995 and now is taking an important step in expanding what news can be by launching a direct-to-consumer streaming subscription service in 2022," Zucker said in a statement.
Streaming alternatives for news and entertainment have resulted in more and more people dropping subscriptions to cable.
Long-term deals with cable distributors prevent CNN from selling its current live programming via streaming. More than a billion dollars in annual profit come largely from cable subscriber fees and advertising.
CNN+ will allow the company to serve existing cable subscribers who want additional content, and customers who don't have cable.
"On top of a television offering that has never been stronger, which remains at the core of what we do today, we will offer consumers a streaming product that grows the reach and scope of the CNN brand in a way that no one else is doing," Zucker said. "Nothing like this exists."
Morse said CNN+ will have three components:
- Eight to twelve hours of live programming a day.
- Original series.
- An interactive community, which will give subscribers the ability "to engage directly with our talent and experts about the issues that matter most to them."
The subscription price will be announced at a later date, CNN said. The service will launch first in the U.S. before being rolled out in other countries.
Morse said shows will be led by "some of CNN's most prominent talent, as well as several new faces," and he added that daily programming will be different than that on the network.
"It's not going to be a news headline service," said Morris, who mentioned opportunities for "more deep dives" into subjects such as climate change; space and science; and race and identity.
"You're also going to see things that surprise you," he said.
CNN is hoping the streaming service expands its ability to connect with people worldwide.
"We think, given our brand reach, given our credibility, given our trust. given the fact that we reach 290 million across linear and digital platforms globally, that there's a really substantial audience opportunity for us," Morse said.
CNN+ will be "focused on video" at launch, Morse said, though "as we understand how customers are consuming the service, we can totally think about new kinds of formats," including podcasts and long-form articles.
CNN plans to hire about 450 people, from producers to engineers to marketers, for the streaming service.
Although other broadcast networks have free streaming channels, Morse insisted they "lack the resources" to launch something as ambitious as CNN+.
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