Walmart mulls video streaming service to rival Netflix, Amazon: report
Walmart is considering the launch of a subscription-based video streaming service to rival Netflix and Amazon Prime Video, according to a report Monday.
The Arkansas-based retailer is said to be eyeing a price point below $8 for the service, which would make Walmart’s platform cheaper than both Netflix and Prime Video, The Information reported, citing a source familiar with the matter. Company officials purportedly theorize that a cheaper service would be popular among their existing customers, especially those “in the middle of America,” the outlet said.
It’s unclear whether Walmart would populate a streaming video service with its own original content, as competitors such as Netflix and Amazon by spending ever-larger sums of money, or attempt to acquire a studio or other entertainment entity, as AT&T did with Time Warner. Walmart has yet to determine if it will actually launch a service and may decide against the idea.
Walmart representatives did not immediately respond to a request for comment on the report.
Walmart’s possible foray into streaming comes amid a broader battle between the company and Amazon. Walmart has spent heavily to build out its e-commerce platforms to combat Amazon’s dominance in the sector, while Amazon purchased Whole Foods last year in a push to garner a larger share of the grocery industry.
In a separate development, Walmart on Tuesday said it would partner with Microsoft to integrate cloud-computing technology into its digital operations.
Walmart shares were flat in trading.