What Went Wrong With CNN +? The Importance of Validating an MVP | Corporate Lab

CNN partnered with McKinsey to launch their new streaming service, CNN+, investing $330 million towards the project. However, the lack of market validation and recent management changes caused the launch to be hasty and poorly coordinated, leading to a harsh response from the new management team. The data revealed only 10,000 daily users and less than 100,000 subscribers, resulting in a customer acquisition cost of $3,300. Rather than relying solely on investment, a successful business model focuses on market testing and product viability to avoid wasting time and budget. CNN+ will eventually be absorbed by the Discovery platforms, and subscribers will receive a refund for their subscriptions.