Earlier this month, Tech Times reported that Walmart was considering its own video streaming service to compete with the likes of Netflix, Amazon, and Hulu. At the time, however, it wasn't clear whether the retail chain was serious about such prospects.
Turns out it's very serious, indeed. Walmart, according to new reports, has apparently enlisted the services of Mark Greenberg to help develop the streaming platform. It's a smart hire — Greenberg is more than capable of what's being asked of him, having been the CEO of Epix, a premium cable and satellite television network. He left the role in September 2017.
Details About Walmart's Video Streaming Service
Walmart's streaming service will allegedly run separate from Vudu, the video service it purchased in 2010 as a bid to make its smart TV offerings more robust. As per Variety, this service would be firmly targeted at Walmart's core demographic, with content primarily targeted at "Middle America."
It will also be inexpensive. The retail company is said to be targeting a monthly subscription price of around $8, which would put it $2 below Netflix's standard asking price. It's not clear whether or not Walmart plans to offer original content, as virtually each of its would-be rivals does. Original movies and TV shows are the bread and butter of any streaming service since it's a huge part of what'll convince people to pay for a monthly subscription in the first place.
Still In The Early Stages
Reports say Walmart's plans are still very much in the early stages. So it's no surprise Walmart and Greenberg are keeping mum on the whole affair. The company certainly has its work cut out for it, though. Netflix won't be a piece of cake to compete with — it's responsible for 73 percent of all U.S. streams, according to Comscore. Toppling it would require massive amounts of effort, an undertaking even a company like Amazon can't achieve for now, and it has Jeff Bezos.
It would also be interesting to see how Walmart plans to differentiate itself from the rest of the pack. Since Netflix, Amazon, and Hulu offer all kinds of viewing pleasures, Walmart could make its video streaming service a niche option, much like how Shudder is all about horror films. That will greatly limit its potential audience, however.
Would you subscribe to Walmart's streaming service? What do you think about this trend of companies launching their respective video platforms? As always, feel free to sound off in the comments section below!