Walmart Is Making Its Own Streaming Service?
Walmart has aspirations to add a streaming service to its subscription plan as it ramps up its efforts to compete directly with Amazon.
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Walmart has been trying to go toe-to-toe with Amazon for a while. It’s been amping up its online presence, offering things like home food delivery. The retail titan also launched its very own subscription service called Walmart+. The subscription service comes with perks such as free shipping, exclusive deals, and special product drops. In an effort to make Walmart+ look even more attractive to potential subscribers, the company is planning on bundling in a streaming service as an add-on.
Thankfully, Walmart is sticking to what it knows and is not attempting to develop its very own streaming service. Rather, it is looking to form a partnership with one of the existing players in the space. The New York Times reported that Walmart recently spoke with executives from Disney, Comcast, and Paramount.
Walmart has not yet publicly commented on whether or not it reached a deal with any or all of the companies that it has spoken to in regards to adding a streaming service to its subscription plan. If Walmart is able to strike a deal with one of all of the entities it spoke to though, that could very well serve as the catalyst to rapidly increase its Walmart+ subscribership. Disney controls Disney+, Hulu, and ESPN+. Comcast owns Peacock, which boasts original content from NBC. Paramount owns and operates Paramount+ as well as Showtime. That kind of diverse lineup would appeal to families and individuals alike.
Walmart adding a streaming service to its subscription plan could very well give the company a leg up against Amazon. Amazon Prime subscribers currently enjoy free 2-day shipping, and access to Prime Video, among a slew of other lesser-known benefits for around $15 per month. Walmart+ costs just under $13 a month and offers savings on fuel, exclusive deals, and same-day delivery on eligible orders. If Walmart adds a streaming service on top of the current perks it offers and keeps the price the same then it’s very possible that the retail behemoth could compete in the same space as Amazon.
On the flip side, a partnership with Walmart could also benefit the streaming service or services that it teams up with. In recent years, the streaming sector has become increasingly competitive with more and more companies entering the space. This is especially evident given that streaming pioneer Netflix lost an immense number of subscribers for the first time in over a decade. Partnering with Walmart could serve as an avenue for a streaming service to reach subscribers it otherwise wouldn’t have. It’s also worth noting that other companies have seen success with this type of model. For instance, Verizon customers have the option to bundle in Disney+, ESPN+, and Hulu for a discounted rate.
Overall, it still remains to be seen whether or not Walmart will satisfy its streaming service aspirations. It is clear that the company is going full steam ahead with trying to bolster what it offers via Walmart+. If the company plays its cards right perhaps it may become a real Amazon Prime competitor. Time will tell.
