The CNN+ Catastrophe

The funny thing about markets is that they need both supply and demand to work. CNN+, America’s newest streaming service, certainly has the supply part down. It has been heralded by a multi-million-dollar marketing campaign and pushed relentlessly on CNN’s cable channels, and it is available on the web, on iPhone and Android, on Apple TV, Roku, and Amazon Fire TV. What it doesn’t have, it seems, is the demand — the customers. Per CNBC, “fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence, according to people familiar with the matter.” And this is after CNN announced The Don Lemon Show would be featured on the service. What gives?

Wouldn’t you just have loved to been in the room when CNN’s leadership met with the enablers at McKinsey and told them that the network expected its new streaming service to have 15 to 18 million subscribers by 2026? What McKinsey’s consultants should have said in response to this — what McKinsey’s consultants would have said had they been doing their job — is, “Are you joking, you delusional lunatics?” Their reaction should have been shock and embarrassment, followed by a cacophony of derisive laughter, and at the end of it all, the delivery of some tough love. What they seem to have done, instead, is jumped up onto the table like Stephen Glass describing his fictional Jukt Micronics meeting and shouted, “Yes, yes — a thousand times, yes.”

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About the Author

Charles C. W. Cooke

Charles C. W. Cooke is a senior editor at National Review and the host of The Charles C. W. Cooke Podcast.

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The funny thing about markets is that they need both supply and demand to work. CNN+, America’s newest streaming service, certainly has the supply part down. It has been heralded by a multi-million-dollar marketing campaign and pushed relentlessly on CNN’s cable channels, and it is available on the web, on iPhone and Android, on Apple TV, Roku, and Amazon Fire TV. What it doesn’t have, it seems, is the demand — the customers. Per CNBC, “fewer than 10,000 people are using CNN+ on a daily basis two weeks into its existence, according to people familiar with the matter.” And this is after CNN announced The Don Lemon Show would be featured on the service. What gives?

Wouldn’t you just have loved to been in the room when CNN’s leadership met with the enablers at McKinsey and told them that the network expected its new streaming service to have 15 to 18 million subscribers by 2026? What McKinsey’s consultants should have said in response to this — what McKinsey’s consultants would have said had they been doing their job — is, “Are you joking, you delusional lunatics?” Their reaction should have been shock and embarrassment, followed by a cacophony of derisive laughter, and at the end of it all, the delivery of some tough love. What they seem to have done, instead, is jumped up onto the table like Stephen Glass describing his fictional Jukt Micronics meeting and shouted, “Yes, yes — a thousand times, yes.”