Walmart is Reportedly Working on a Netflix Like Streaming Service

Walmart is Reportedly Working on a Netflix Like Streaming Service

The outlet cites anonymous sources with the intel, and reportedly the service could be less than $8 a month - a total which would put its monthly rate below both Netflix ($8-14/month) and Amazon Prime ($8.99/month). One option is to undercut the competition.

Walmart is also considering offering a free tier of its video streaming service that would come with ads.

According to the report, the $8-per-month price comes from the idea that Netflix and Amazon are more popular with customers on the East and West Coasts.

"We have seen a decline in revenues for pay TV, a fall in spending on new programs by our public service broadcasters, and the growth of global video streaming giants", she said.

Walmart, though, seems to be aiming at its base with the service, targeting price conscious consumers and those in midwestern states.

Walmart mulls video streaming service to rival Netflix, Amazon: report

Research from United Kingdom media regulator Ofcom reveals subscriptions to the UK's top trio of streaming outlets - Netflix, NOW TV (Sky) and Amazon Prime - climbed to 15.4 million, while pay-TV fell short at 15.1 million subscriptions. Between Netflix, Amazon, Hulu and the countless other streaming services to emerge in recent years, TV and movie fans have reached a point where it's downright impossible to keep up with everything, but don't get your hopes up that it's all gonna slow down anytime soon.

Walmart isn't totally new to video streaming-it already owns Vudu, a service for buying and renting movies.

The Information notes that a streaming service can be a money maker, but it's also expensive to set up and acquire content.

The growth in connected devices, coupled with more people having access to "superfast broadband" (24Mbps+) ISP speeds (available to 95% of United Kingdom premises and rising to 98% by the end of 2020), has helped fuel the growth in online and video-on-demand (VoD) alternatives.

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