Walmart Is Reportedly Working On A Streaming Service

Walmart is one of the latest companies that want to jump on the streaming bandwagon and start competing with Amazon, Netflix, and others.

According to The Verge (via the New York Times), the company is still evaluating the situation. It is in contact with some major content providers over the types of content it can show on Walmart Plus. Walmart is reportedly in negotiation with Paramount, Disney, and Comcast.

This is not the first time we have heard about Walmart’s efforts to build a streaming service. The company acquired the American streaming service Vudu in 2010, but it couldn’t do anything with that and eventually sold it to Fandango in 2020. Then, in 2018, Walmart again made the headlines for building a streaming service. Those plans were also abandoned. Now, the company has resumed its plans to build a streaming service.

Walmart wants to build a streaming service

Of course, Walmart is not alien to the streaming market, and it has some collaborations with Redbox and other streaming platforms. It also offers a streaming box under the Onn brand. Walmart Plus is another subscription plan by the company that charges customers $98 a year.

Walmart has been trying to enter the streaming market for over a decade, but for whatever reason, it has not succeeded. The Times also reports that the company may back off its decision this time and not spend its resources on entering an unknown market. Especially when the competition in the streaming market is fierce, and even a big brand like Netflix is losing subscribers.

However, If Walmart makes a firm decision to enter the streaming market, it can adopt several strategies. First, it can invest in creating exclusive content and license it to other platforms. This is the same strategy that some streamers like Netflix and Disney are taking. Another strategy is Walmart can help its Plus customers to get subscription deals on other streaming platforms like Peacock or Paramount Plus.