Dec 22, 2017

CNN kills Snapchat show after four months

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.

Go deeper

Wisconsin Supreme Court blocks governor from delaying state's primary

Tony Evers. Photo: Nuccio DiNuzzo/Getty Images

Wisconsin's Supreme Court on Monday blocked an executive order by Gov. Tony Evers (D) that attempted to delay in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.

Driving the news: Judges ruled 4-2 along ideological lines that Evers does not have the power as governor to unilaterally postpone the election, despite the fact that the state has a stay-at-home order in place due to the coronavirus pandemic.

Go deeperArrowUpdated 56 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 1,331,032 — Total deaths: 73,917 — Total recoveries: 275,851Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 356,942 — Total deaths: 10,524 — Total recoveries: 18,999Map.
  3. 2020 update: Wisconsin governor orders in-person primary voting delayed until June.
  4. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  5. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  6. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Stocks jump 7% despite bleak coronavirus projections

People passing by the New York Stock Exchange amid the coronavirus pandemic. Photo: John Nacion/NurPhoto via Getty Images

The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.

Why it matters: The huge market surge comes amid rare optimistic signs that the spread of the coronavirus may be slowing in parts of the country, including New York. But government officials say this will be a difficult week, while economists — including former Fed chair Janet Yellen today — warn that the pandemic could have a catastrophic impact on the global economy.