Charlie has already noted the absurd pretensions of CNN’s belief that CNN+, its new streaming service, would get 2 million subscribers in the U.S. in its first year and have 15–18 million after four. He draws from an Axios report that asserts CNN was prepared to spend around $1 billion on the service in its first four years but is now dramatically scaling back its plans after initial sign-ups have proved underwhelming.
CNN’s unjustified belief in its own importance and popularity are undoubtedly a part of this failed launch; the network had unreasonable expectations for the success of this product. But I want to zero in on a line from the Axios report, one I think might help explain how CNN got things so wrong:
CNN executives, with help from consulting firm McKinsey, originally expected to bring in around 2 million subscribers in the U.S. in the service’s first year and 15-18 million after four years.
“With help from consulting firm McKinsey.”
Ah. That explains it.