Streaming War Battle Scars: Goodbye to CNN+ 4/22/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 22 April 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The streaming wars have left big players with some battle scars: Netflix is recovering from a rough year so far, and CNN+ is no more. Axios media reporter Sara Fischer and The Wall Street Journal’s Joanna Stern discuss what went wrong for the service, and why Warner Bros. Discovery has opted to shut it down. Political strategist and pollster Frank Luntz discusses America’s complicated response to corporations getting involved in politics, as Disney finds itself on the outs with Florida’s lawmakers. Plus, Elon Musk is still trying to scrounge up the funds to buy Twitter. In this episode: Joanna Stern, @JoannaStern Sara Fischer, @sarafischer Frank Luntz, @FrankLuntz Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi there, I'm C.N.C. producer Cameron Costa.
0:07.0	Today it's a jam-packed episode of Squack-Pod.
0:11.0	Streaming Wars are heating up, and some players can't take the heat like
0:15.9	Netflix or the soon to be defunct CNN Plus. Axias reporter Sarah Fisher.
0:21.2	They've laid off CNN's CFO.
0:23.3	They cut marketing spend.
0:24.6	The writing was on the wall.
0:26.2	But ultimately, these two companies just
0:28.6	had a very different take on what this asset should be
0:31.6	and honestly whether or not it would even work long term.
0:34.6	And Disney's streaming is just fine but it's politics getting them into trouble in Florida.
0:41.3	Is it wrong to say there's culture wars?
0:43.2	Nope.
0:43.7	I think a culture war is upon us.
0:46.8	Political strategist Frank Luntz
0:48.7	says the feud is bigger than the Magic Kingdom.
0:51.8	It's a tragedy.
0:52.9	This never should have happened.
0:54.2	Corporations should not be involved in politics
0:56.6	according to the American people.
0:58.9	Plus, what's a day on Wall Street without Elon Musk?
	...

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