Walmart Reportedly Eyeing Low-Cost Streaming Service to Rival Netflix, Amazon
If there’s one thing the world needs right now it’s more content. Between Netflix, Amazon, Hulu and the countless other streaming services to emerge in recent years, TV and movie fans have reached a point where it’s downright impossible to keep up with everything, but don’t get your hopes up that it’s all gonna slow down anytime soon. According to a report in “The Information“, Walmart is considering a move into the subscription video service with a low-cost streaming option intended to rival Netflix and Amazon.
The outlet cites anonymous sources with the intel, and reportedly the service could be less than $8 a month — a total which would put its monthly rate below both Netflix ($8-14/month) and Amazon Prime ($8.99/month). However, the retail giant is also still considering an ad-supported free service as well. Walmart already has an established digital streaming service with Vudu, which offers thousands of titles to buy or rent and an ad-suported free streaming element, Movies On Us, which operates via ad-supported funding.
The new streaming service would be quite the expansion for Walmart, making it the latest major company to move into the fold. Apple also recently started financing shows and Facebook recently launched Facebook Watch. It would also be another step to match e-commerce rival Amazon, especially after Amazon’s recent acquisition of Whole Foods, which moved into Walmart’s brick-and-mortar grocery sphere.
The report doesn’t specify what kind of series, movies or other forms of programming would be included if the company decides to make forward with their new SVOD service and the report also added that, at this point, Walmart may ultimately decide not to move forward with the streaming service.