CNN Drops $40 Million Into Its Digital Studio Great Big Story
In an effort to build a 24/7 streaming network CNN has invested $40 Million into its digital studio, Great Big Story. The investment, which will be made over a period of two years, comes as the digital studio looks to compete in an increasingly crowded online video market.
Great Big Story, which plans to launch its “always-on” network in summer 2018, was created to produce short-form videos that weren’t tied to the 24-hour news cycle. The network will combine live programming with long-form, unscripted and acquired content, which will be distributed on over-the-top services, skinny bundles, linear channels and other digital platforms.
CNN launched Great Big Story in 2015 in an effort to reach a younger audience and compete with digital video-centric start-ups such as Vice and BuzzFeed. Additionally, the news network recently acquired Casey Neistat’s Beme app and is planning to launch a daily news show with the YouTube star.
Since its launch, Great Big Story has seen 300 percent growth year-over-year, according to CNN president Jeff Zucker, who made the claim at the company’s NewFronts Presentation in May.