The primary problem that CNN is facing is that what everyone would really want from a streaming CNN (if they want it at all) would be - well - regular CNN.
But right now, they just can't deliver that - not without you first buying a cable bundle. The $1.01 (according to Variety back in 2020 -
https://variety.com/vip/pay-tv-true-cost-free-1234810682/) that CNN gets per user per month is worth something of the order of $800m a year or thereabouts, and they can't afford to give that up. CNN's most recent *profits* are ~$700m! But obviously a significant number of people have cut the cord and don't have cable, and there's no current way that CNN can sell those households their regular service because of the exclusivity deals they've done with cable (and satellite) operators. Cable would simply stop paying the $1 a month if they weren't exclusive.
The number of cable homes falls year on year, so those cable revenues fall commensurately. At some point, CNN will have to bite the bullet and give up those exclusivity deals. But in the meantime, CNN+ was at least theoretically, a workaround or hedge to allow people to get a sort-of-CNN without cable. Yes - at launch CNN+ was supposed to be for super-fans of the regular service (just as Fox News fans have Fox Nation - they too can't put their main offering on a streaming service), but in time they would surely have wanted to grow it out and offer a version of the service that didn't cost them that lucrative cable money.
How CNN, Fox News, ESPN and others navigate this will be interesting. The networks and studios with non-news and sport can do it by slowly shifting shows to their streamers, and putting all the "good" stuff on streaming. Hence we see ABC shifting Dancing with the Stars to Disney+. CBS can stay full of NCIS spin-offs, while anything else goes on Paramount+ and so on.
There's a good question about how news should work in a streaming world, but honestly I think a "lift and shift" from linear broadcast to streaming would be just fine for a lot of people. Add in the ability for me to watch a 20-30 minute regularly updated news bulletin on demand, and that's just fine. I bet a load of streaming only folk would happily leave something like CNN streaming live in the background on mute or low volume, just keeping an eye for "Breaking News" banners. But it's a business limitation they face right now.
Adam