CNN to Launch Streaming Service Next Year

Expansion After US Election... Targeting the OTT Market

[Asia Economy Reporter Yujin Cho] US broadcaster CNN is set to launch a streaming service next year, marking its full-scale entry into the online video service (OTT) market.

On the 19th (local time), CNN officially announced that it will hire about 450 people including producers, engineers, and marketing staff, and introduce dozens of programs to provide the streaming service 'CNN+'.

The service is scheduled to launch starting in the US in the first quarter of next year, with 8 to 12 hours of programming prepared daily.

CNN+ will offer content separate from existing TV programs for cable news subscribers, focusing more on planned news rather than breaking news.

It plans to present programs covering in-depth topics such as climate change, space, and race, with details such as subscription fees to be announced later.

Jeff Zucker, CNN President, stated in a press release, "CNN invented cable news in 1980, defined what online news is in 1995, and now takes a step forward to expand what news can be through a streaming service that reaches consumers directly."

Andrew Morse, CNN's Chief Digital Officer (CDO), emphasized, "Since founding CNN in June 1980, this is the most important launch for CNN."

This challenge by CNN comes as the OTT market, led by platforms like Netflix, has rapidly grown due to theater closures and increased remote work caused by COVID-19.

To capture the suddenly expanded market, traditional media giants are launching new services one after another, intensifying competition.

Currently, more than eight companies compete in the global OTT market, including Netflix, Amazon Prime Video, Disney+, Apple TV, Peacock, Hulu, HBO Max, and Paramount Plus.

This content was produced with the assistance of AI translation services.