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CNN is terminating its daily Snapchat show, "The Update." CNN was one of Snapchat's launch partners for its content section "Discover" in 2015. Sources say this was a part of a broader strategy conversation between the two companies about the best way to use the platform moving forward to keep audiences engaged.

Why it matters: Sources say ending the show on December 31st is more about pausing to find the right fit and strategy for CNN on the platform. Snapchat has been careful about making sure partners create original content for the Discover that is built to best engage its younger audience using fast-production cues, vertical video, etc. Both sides say they are committed to "keep working together" and that their relationship "will very much be continuing."

Snapchat is in the midst of transitioning publishers on Discover over from a licensing model to a revenue-sharing model, where show performance is key to ensure both parties make money. In an opinion piece for Axios in November, Snapchat's Evan Spiegel said it was important for Snapchat to make sure publishers feel fairly compensated on the platform so that partners can invest in improving their content and building their businesses

Other news shows on Discover, like Snapchat's "Good Luck America," and NBC's "Stayed Tuned" still seem to be working out well.

  • "We launched this show to reach a new audience. And we've been successful in that endeavor, as is evidenced by the tens of millions of under-25 year olds that watch the show every month," said Nick Ascheim, SVP of digital at NBC News Group.
  • Axios reported in August that its new show received 29 million viewers in its first month and that Good Luck America grew 45% in its first two seasons.

The Wall Street Journal first reported the news Friday morning.

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Photo: Anwar Amro/AFP via Getty Images

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Driving the news: At least 100 people have been killed and over 4,000 injured in the blast — and the death toll is likely to rise, the Lebanese Red Cross said, per AP. Prime Minister Hassan Diab said the explosions occurred at a warehouse that had been storing 2,750 tons of ammonium nitrate for the past six years.