Television, Remote, Streaming

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Walmart Planning Streaming Service To Compete Directly With Netflix

July 18, 2018

As it seems more studios are developing their own streaming services to deliver their content, retail giant Walmart has decided to throw their hat into the mix as well.

Walmart has plans to develop their own streaming service in order to directly compete with the likes of Netflix and Amazon Prime Video.  Walmart says they have plans to offer their own service at less than $8 a month, which would be lower than both Netflix and Prime.  

This wouldn't be Walmart's first attempt at the streaming game, either.  In 2010, Walmart acquired the platform Vudu, but could not acquire the same success Netflix did.  Earlier this year, Bloomberg found that Vudu users spent an average of two hours a month on the platform, whereas Netflix users spent about 25 hours on theirs.  

Netflix and Prime are pouring in billions of dollars into original content as well, which is something Walmart will have to contend with upon launching their service.

Though the market may seem crowded, people are definitely willing to spend on streaming services.  According to Bloomberg, one million new households subscribe to streaming services every month, and the market is expected to grow to $84 billion by 2022.

Walmart does not yet have a projected date of the launch of their service.

Via The Next Web