Walmart May Launch Streaming Service to Take On Netflix, Amazon
Walmart is reportedly eyeing a move into the subscription streaming business, bringing another competitor into an increasingly crowded world.
According to a report from Fortune, the retail giant is considering creating a paid service aimed at its customer base in the midwest, charging consumers $8 per month. Walmart is also weighing an ad-supported free version.
RELATED: Netflix Testing New, Pricier ‘Ultra’ Subscription Tier
If Walmart moves forward, it would throw a new weapon into the battle between the retailer and their biggest online competitor, Amazon. The price tag could also create serious competition for Netflix, the current leader in streaming subscription services. As it stands, the reported price tag for Walmart’s service would be almost $3 less per month than Netflix’s current standard package.
The price of a potential Walmart subscription service could capture the loyalty of customers who have yet to buy into the Netflix or Amazon models. While the two services have large customer bases on both coasts, Netflix and Amazon are less popular in the middle of the country, which has typically been among Walmart’s strongest demographics.
Consumers will have to wait for more details and confirmation of Walmart’s immediate plans. With ever-increasing prices, the currently available subscription services may have to come up with new tactics if Walmart moves forward with their reported plan.
(via The Information)