Western Reader
CNN is making significant changes under the leadership of new CEO Mark Thompson. With declining ratings and the shift away from traditional cable packages, Thompson is focusing on a digital-first strategy. This approach includes budget reductions and salary cuts for on-air personalities.
Prior to CNN, Thompson had roles at The New York Times and BBC. He believes that CNN needs to revive its innovative spirit. As part of his plan, he aims to reduce anchor salaries, some of which exceed $50 million, and scale back multi-anchor programs.
CNN plans to cut 100 jobs and launch a subscription product this year.
📰 Read more here: https://t.co/93nsOxOcf3
— TheDesk.net (@TheDeskDotNet) July 10, 2024
CNN’s primetime viewership has dropped to 538,000 viewers per night in the 8-11 p.m. slot, trailing behind Fox News and MSNBC.
The network has faced challenges with digital projects, notably the failed CNN+ service, which was shut down a month after its April 2022 launch. Thompson’s strategy is designed to learn from past mistakes by integrating CNN’s news production across television, streaming, and digital platforms.
This CNN story covers it all:
*Reducing 100 jobs? ✅
*New digital concepts? ✅
*Extensive insights from CEO? ✅
^Recognition that primetime needs improvement? ✅https://t.co/XXkuC8cue7— Brian Steinberg (@bristei) July 10, 2024
To lead the digital transformation, Alex MacCallum, previously in charge of CNN+, will return as executive vice president overseeing digital products. She will focus on creating new ideas to engage digital audiences, moving away from traditional broadcasting methods .
The network’s shift to digital also involves cultivating digital and social media personalities. Experts suggest that future news anchors will need to excel across various media platforms to justify their pay. This change is highlighted by former TV anchors like Megyn Kelly and Piers Morgan, who have successfully transitioned to digital platforms with large followings.
As of now, CNN has 16 million subscribers on YouTube, where they predominantly share show clips. However, Thompson’s plan suggests a move towards offering more diverse digital content.
Despite the internal restructuring and a focus on digital innovation, CNN faces significant obstacles in maintaining its audience and relevance in a rapidly changing media landscape. The network’s success in this new direction will depend on its ability to adapt and innovate in the face of strong competition and evolving viewer preferences.
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