CNN's Mark Thompson Vague On CNN's Digital Pivot

CNN CEO Mark Thompson gave an interview to the Financial Times, discussing the network’s challenges and his vision for its future amid an industry-wide “revolution.” 

Key points include:

• Digital Overhaul: Thompson emphasized CNN’s need to pivot to digital subscriptions to counter declining cable revenue, with a paywall already in place ($3.99/month) and a lifestyle-focused subscription product planned for 2025. He aims to build a $1 billion digital business, acknowledging that no broadcaster has fully cracked digital transformation.
• Trump Coverage: Addressing Kaitlan Collins’ exchange with President Trump, Thompson urged CNN to hold the administration accountable without “throwing punches.” He stressed impartial reporting, saying, “Our job is to cover the political contest, not to oppose political forces,” reflecting on Trump’s criticisms of CNN’s credibility.
• Industry Context: Thompson noted the broader media landscape, with cable news losing viewers to streaming and free digital platforms. He supported the Associated Press’ fight for White House access, highlighting the value of coordinated press coverage.
• Linear TV: While committed to TV—“I’m a TV guy, I love it”—Thompson admitted CNN’s linear product needs improvement in areas like financial news, health, climate, sports, and entertainment, but digital is existential for long-term survival.

In 2024, CNN introduced a metered paywall on CNN.com, charging $3.99/month or $29.99/year for unlimited access to articles, exclusive election features, documentaries, and fewer ads. This followed a 5.6% drop in cable subscribers to 66.3 million in 2024 and historically low primetime viewership. 

Thompson, leveraging his success with The New York Times’ digital model, aims to build a billion-dollar digital business, with a non-news, lifestyle-focused subscription product planned for 2025. About 100 jobs were cut (2.8% of 3,500 staff) to fund this pivot. 

CNN’s $1 billion digital revenue target by 2030 is ambitious but lags behind the NYT’s $2 billion+ digital revenue (2023). The Post and Bloomberg have smaller subscriber bases but differ in focus (general vs. financial news). Fox and MSNBC rely more on cable and streaming (Fox Nation, Peacock), with less emphasis on paywalled news.

Pricing and Accessibility: CNN’s $3.99/month is competitive but higher than NYT’s entry-level pricing ($1–$6/month promotions). Bloomberg’s $34.99/month targets elites, while Fox Nation ($5.99) and Peacock ($5.99) bundle news with entertainment. The Post’s $9/month is mid-range but struggles with scale.

Audience and Challenges: CNN and the Post face polarization and trust issues, similar to MSNBC, while Fox benefits from a loyal conservative base. The NYT’s broad appeal and Bloomberg’s niche focus mitigate political risks. Subscription fatigue and free news alternatives (e.g., X, YouTube) challenge all players.