CNN has definitively announced its plans to launch a streaming service, CNN+, in March 2022. The service will provide longform programming, new and original series, and deeper dives into news stories. Additionally, CNN will pull some of its current programs from HBO Max and divert them to CNN+. HBO Max and CNN are both owned by AT&T’s (T) WarnerMedia.
CNN+ will charge a low monthly subscription fee, and will likely appeal to current fans of CNN’s programming. However, the new service is joining a crowded field of streaming providers, many of whom, such as CBS, do not charge a fee. Moreover, CNN is the least popular of the three major cable news networks, having shown lower ratings and steeper declines in viewer numbers than Fox News and MSNBC this year.
Even before the launch of CNN+, there are a bevy of streaming services to choose from. Netflix, the heavy hitter, has seen its stock sputter after its earnings release highlighted its difficulty adding customers. Disney Plus and Prime Video seem to be faring better, but CNN’s new streaming service is certainly entering a strongly competitive arena. It will have to truly stand out to garner customers.
Analyst Forecast
According to Wall Street analysts, T stock earns a Moderate Buy consensus rating, based on five Buy ratings and four Hold ratings assigned in the past three months. Additionally, the average AT&T price target of $29.27 puts the upside potential at 11.12%.
Download the TipRanks mobile app now
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Read full Disclaimer & Disclosure
