CNN is making changes in response to challenges in growing audiences and revenue, aiming to offer new subscription-ready products.
CNN is cutting around 100 positions to restructure its operations and will unveil digital subscription services before the year ends to adapt to evolving business demands.
In a recent internal communication by CEO Mark Thompson, it was mentioned that the reduction would affect only a fraction of the total workforce, which stands at about 3,500 employees. Every effort was made to prioritize internal job transfers to minimize actual terminations.
Thompson emphasized the need for a bold digital strategy at CNN that can attract the necessary audience and revenue to sustain its distinctive journalistic standards and ensure commercial success. The organization intends to introduce subscription-based products offering a blend of news, analysis, and contextual information in innovative formats. The focus will be on enhancing visitor engagement on CNN.com and establishing mechanisms to encourage frequent return visits.
While CNN's digital platforms have traditionally emphasized written content, the future roadmap includes a pivot towards more video content delivery. Thompson stressed the importance of leveraging CNN's video production capabilities and prominent reporting resources in the digital landscape.
Moreover, CNN plans to expand its content portfolio with practical and feature-driven segments, exploring revenue avenues through sponsorships, novel advertising methods, and direct-to-consumer subscription models.
A significant part of CNN's future strategy will involve harnessing artificial intelligence technologies to enhance user experiences while ensuring safety and privacy.
Thompson, a seasoned executive with prior leadership roles at reputable media entities like the BBC and The New York Times, assumed the helm at CNN in late 2023. His tenure commenced following the departure of Chris Licht in mid-2023. Thompson's track record at The New York Times, steering the transition towards a subscription-oriented digital approach, signifies his commitment to sustainable business models in an evolving media landscape.
Earlier this year, Thompson unveiled plans for a comprehensive overhaul of CNN.com, aiming for a more contemporary and user-centric online platform.
Source: ALJAZEERA
ALJAZEERA MEDIA NETWORK