CNBC is getting into the streaming game with a service called CNBC+. The platform will feature a global livestream with financial news happening in the U.S., U.K. and Asian markets. Subscribers can also watch entire show episodes on demand. The service is available through iOS and Android apps or at cnbc.com.
According to Variety, CNBC announced the news and pricing plans for CNBC+ on January 1 in an email to those who signed up for the network’s digital offerings.
Announcing a brand new property for business and financial professionals on a day when most companies are closed feels odd. CNBC is also one of the properties that current owner Comcast is planning to spin off into a new company, which makes this a potentially challenging time for the network to launch an expensive new endeavor.
And expensive is the key word. Not only is running a digital platform like this expensive, but CNBC+ isn’t cheap for viewers either. A regular subscription will cost $15 per month, while the Pro tier includes additional stock ratings and picks as well as the My Portfolio feature for $35 per month or $300 per year. For truly committed fans, there’s also an All Access plan that includes participation in an online investment club led by CNBC personality Jim Cramer. That plan costs $600 annually.
This isn’t the first time cable news has tried streaming standalone. Warner Bros. Discovery launched a CNN+ service in March 2022 but promptly shut it down just a few weeks later. We’ll see if CNBC+ can last long.
South Korean-based Terraform Labs wiped $40 billion off the crypto market when its TerraUSD and Luna stablecoins turned out to be not so stable and collapsed in May 2022. Kwon had fled South Korea just a month earlier.
The US announced its charges in February 2023, with SEC Chairman Gary Gensler saying, “We allege that TerraForm and Do Kwon failed to provide full, fair, and truthful disclosures required for hosting crypto asset securities, particularly for Luna and TerraUSD. We also allege that they committed fraud by repeatedly making false and misleading statements to build trust before causing devastating harm to investors.” South Korea has also issued similar charges.
Montenegro does not have an extradition treaty with the US or South Korea. The request has been worked out in court over the past year and a half, with Montenegro’s Justice Minister Bojan Bozovic ordering Kwon’s extradition last week. TerraForm Labs filed for Chapter 11 bankruptcy protection in the US last January.