barnimages.com

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

Updated 17 mins ago - Politics & Policy

Unrest in Philadelphia after fatal police shooting of Black man

Demonstrators rally on Tuesday near the location where Walter Wallace was killed by two police officers in Philadelphia, Pennsylvania. Photo: Mark Makela/Getty Images

The Pennsylvania National Guard was mobilized Tuesday during a tense second night of protests in Philadelphia over the fatal police shooting of Walter Wallace, a 27-year-old Black man.

Driving the news: Philadelphia Mayor Jim Kenney (D) and Police Commissioner Danielle Outlaw said in a joint statement Monday that police were launching a "full investigation" to answer questions that arose from video that captured part of the incident with police.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.
3 hours ago - Sports

Los Angeles Dodgers win World Series

Mookie Betts slides home safely to give the Dodgers a 2-1 lead. Photo: Tom Pennington/Getty Images

The Los Angeles Dodgers won their seventh World Series in franchise history with a 3-1 Game 6 victory over the Tampa Bay Rays on Tuesday. Shortstop Corey Seager was named the series MVP.

The big picture: It's the Dodgers' first championship since 1988, though they've won the NL West division in eight straight seasons and reached the World Series three times in the last four years.