This chart might explain why CNN Plus shut down early

Photo by Spencer Platt/Getty Images

CNN shut down its new streaming baby CNN Plus less than a month after it went live, so you might be wondering what went wrong. According to a report from Axios, the streaming service was far from reaching its projected year-end viewership goal, and would have burned through $400 million by the year's end.

CNN projected that the service would have two million subscribers by the end of the year, but they only attracted 150,000 people. Disney Plus had 10 million subscribers in its first day, and the same thing happened to Quibi, which had 910,000 people sign up in its first few days.

CNN was setting itself up to make a lot of money by streaming. CNN Plus was supposed to make a profit of $800 million per year by the year 2030.

Image: Axios

How? CNN was hoping to have 30 million subscribers by the year 2030. CNN thought it would only lose $200 million and break even in 25 years. The company was expected to make $200 million by the year 2026, and eventually reach its goal of $800 million by the end of the decade.

We don't know the exact logic that caused CNN to pull the plug, but seeing how CNN Plus only had 150,000 subscribers and apparently needed to burn $1 billion for a chance at $800 million a year, it's not hard to see what was at stake. CNN got out early.