Walmart, Paramount launch streaming service for members
Walmart's subscription service membership fee will not increase despite the added perk
Walmart+ subscribers can officially stream thousands of episodes, popular films and live sporting events with Paramount's ad-based streaming service.
Effective immediately, Walmart's subscription service members can set up an account with Paramount+ Essential Plan at no additional cost, Walmart announced.
Walmart claims this is the most anticipated benefit for its service, which is viewed as a direct competitor for Amazon Prime.
Walmart+ subscribers can access Paramount's streaming service. (Walmart)
Amazon's Prime membership comes with an array of perks such as the Amazon Video service, original programming and free gaming. But the company recently raised the cost of its membership to $14.99 per month or $139 per year due to inflation.
WALMART MAY BREAK INTO STREAMING MARKET IN POTENTIAL DEAL WITH DISNEY, PARAMOUNT AND COMCAST
Meanwhile, the cost of Walmart's program — which also offers free shipping on items and discounts on gasoline — will remain at $12.95 per month or $98 per year, even with the added benefit, according to the Arkansas-based retailer.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 87.19 | +0.59 | +0.69% |
| AMZN | AMAZON.COM INC. | 202.88 | -1.73 | -0.85% |
The recent perk, valued at $59, is an effort by the nation's largest retailer to sweeten its subscription program for existing members, while also trying to lure in new members.
Walmart has never disclosed the number of members it has signed up. However, when Walmart first announced the deal last month, it said it's had monthly growth in membership since its launch in September 2020.
STREAMING SERVICES SURPASSING CABLE TV IN VIEWERSHIP IS 'SUSTAINABLE': DAN IVES
"It’s pretty simple for us — our Walmart+ members asked for a streaming benefit, and we absolutely delivered with Paramount+," Chris Cracchiolo, senior vice president and general manager of Walmart+, said in a statement.
Walmart truck traveling on a highway. (iStock / iStock)
Starting Wednesday, members will get instant access to scads of Paramount+ originals and movies such as "Halo" the series, "Star Trek: Strange New Worlds" and the "Yellowstone'' prequel.
They will also get access to Paramount+ exclusives like "Transformers: Earthspark," "Tulsa King," "On the Come Up" and "SEAL Team," which are set to premiere this fall.
CLICK HERE TO READ MORE ON FOX BUSINESS
To access the service, members must log into their current Walmart+ account online or through the app. From there, they will have to create a Paramount+ account.
New members can also sign up for a Walmart+ to create a Paramount+ account and start streaming immediately.
The Associated Press contributed to this report.