CNN is pulling the plug on its daily Snapchat newscast following a brief run. The decision, first reported by The Wall Street Journal, has been confirmed by both parties.
CNN launched the show, dubbed The Update, in mid-August. It was designed for Snapchat’s vertical video format but as TechCrunch highlights, it didn’t feature video produced exclusively for Snapchat nor did it have dedicated news anchors. Instead, The Update consisted of roughly five stories from various correspondents that were condensed into a roughly three-minute-long format.
Rival news network NBC in July launched a news show on Snapchat called Stay Tuned. That show, which is still going strong, airs twice daily with up to five quick-hit segments covering the top national and international stories of the day. It’s hosted by NBC News correspondent Gadi Schwartz and MSNBC weekend reporter Savannah Sellers.
People familiar with the matter tell the Journal that CNN’s decision to ditch the show came because it realized there wasn’t a clear enough path to make money. Sources said CNN had been receiving a licensing fee but it was set to go away meaning future revenue would come exclusively from ad sales.
“Snap and CNN have built a great partnership over the years and our teams have enormous admiration for each other,” the companies said in a joint statement on the matter. “We plan to keep working together and mutually decided to hit pause as we explore the best opportunities for doing that. Our relationship will very much be continuing.”