CNN Max is attracting users who are “20 years younger” than traditional TV viewers, according to Warner Bros Discovery CEO David Zaslav.
In a commentary provided for investors following WBD’s third quarter results announcement, Zaslav said his team had been “analysing everything” to do with the new streaming service since its launch in October. The evidence was as expected before launch: It is attracting much younger viewers who don’t subscribe to cable to its suite of live news and analysis programs and original shows.
WBD will “continue to iterate and improve the offer,” added Zaslav, “But the key takeaway here is we saw an opportunity and were able to pivot quickly, seamlessly and decisively and by providing CNN Max as a service we’re expanding our audience and our impact. The fact is what CNN does has never been more important or impact and no one does it better.”
Zaslav shut down CNN Max’s predecessor CNN+ just week after its launch following the merger of Warner Bros and Discovery last year. J.B. Perrette, WBD’s streaming chief, said at the time it had suffered due to the plethora of streamers on the market, but the launch of CNN Max on September 27 took a markedly different approach: Including a 24/7 live feed that mirrors the cable news channel.
As such, CNN Max launched the live feed and offered on catch-up primetime shows such as Erin Burnett OutFront, Anderson Cooper 360 and The Source With Kaitlan Collins, morning programming including Early Start with Kasie Hunt and CNN This Morning and others from CNN International, including State of the Race with Kasie Hunt.
Elsewhere during the investor call, Zaslav revealed new CNN boss Mark Thompson has visited “nearly all” CNN offices internationally, said Warner Bros Discovery CEO David Zaslav today. “We’re thrilled to have him in post.”
Former New York Times and BBC topper Thompson was confirmed as CNN Chairman and CEO in August, coming into a news operation with sights set on reaching younger news-hungry audiences, the Ukraine-Russia conflict continuing the impending launch of CNN Max in the U.S. Last month, the Hamas-back terrorist attack on Israel led to the start of the Israel-Gaza conflict, which has killed thousands, including many journalists.
Zaslav noted the dangers of reporting from these spots during the investor call. “In my view, we have the very best journalists in the business,” he said. “Right now we have over 70 on the ground across Israel, Gaza, the West Bank and Lebanon, and we’ve also got teams in Ukraine. They’re in harms’ way, working around the clock and reporting on these conflicts. Our teams bring not only their news reporting skills, but their deep knowledge of the region, geopolitical actors and the conflict.”
In WBD’s Q3 results, it revealed adjusted EBIDTA of $111 million for the quarter from Direct-to-Consumer. It noted CNN Max and the Bleacher Report Add-On, which launched on October 5, “are showing early signs of contributing to increased engagement and lower churn on Max.”