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Photo: Schöning / ullstein bild via Getty Images

CNN will sunset a number of digital initiatives this year in an effort to stay nimble, Axios has learned. The company will also launch new projects as it continues to test what resonates best with its audience and drives revenue.

Why it matters: Big-money projects and restructuring are part of the network's commitment to pivoting its business model towards profitability, even if it means cutting ties with major investments.

CNN has a mandate to fail fast, meaning initiatives that don't show a promising return on investment after a few months will be re-evaluated in order to stay competitive.

  • Last week, the network cut ties with Casey Neistat and folded his video business, Beme, into its core brand. Sources say Neistat became disinterested and absent shortly after the acquisition, which contributed to CNN’s decision to shutter Beme — rumored to have cost the company $25 million — as a standalone business.
  • The company is looking to re-establish its relationship with Snapchat in an effort to create a partnership that drives more engagement and revenue in the future.

The big picture: CNN's digital focus is a part of Turner 2020, the six-year initiative from CNN's parent company to focus its efforts on profitability. The company has hired more than 200 staffers to work on CNN digital since the fall of 2014. Per comScore, CNN pulled in 110 million domestic uniques last month.

At the heart of CNN's big bets is Great Big Story (GBS), a millennial video startup funded in full by CNN that is driving massive audience growth, particularly among millenials, for the network.

  • In Q4 of 2017, GBS reached an average audience of 196 million per month across platforms and has quintupled it’s YouTube subscriber list to roughly 1.86 million subscribers.

Flashback: NYT's Jan. 2017 2020 Group strategy report: "We're no longer in a period when most coverage leaders have the luxury of 'figuring it out' over multiple years."

Go deeper

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: Schumer announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.

4 hours ago - Health

CDC extends interval between COVID vaccine doses for exceptional cases

Photo: Joseph Prezioso/AFP via Getty

Patients can space out the two doses of the coronavirus vaccine by up to six weeks if it’s "not feasible" to follow the shorter recommended window, according to updated guidance from the Centers for Disease and Control and Prevention.

Driving the news: With the prospect of vaccine shortages and a low likelihood that supply will expand before April, the latest changes could provide a path to vaccinate more Americans — a top priority for President Biden.