Walmart May Have the Key to Surpassing Amazon Prime — Here’s How

Jan 9, 2020 Mountain View / CA/ USA - People shopping at a Walmart store in south San Francisco bay area.
Sundry Photography / Getty Images

Walmart is looking to add a streaming service to its Walmart+ membership program. Sources told The New York Times that in a meeting with major media companies — including Paramount (Paramount+), Disney (Disney+, ESPN+, Hulu) and Comcast (Peacock) — the retailer discussed which movies and TV shows would add the most value to its membership bundle.

See: 10 Biggest Deals at Walmart for August
Find: 7 Surprisingly Easy Ways To Reach Your Retirement Goals

The NYT added that according to two people familiar with the company’s strategy, Walmart is looking to build a relationship with customers beyond its stores and compete with Amazon’s Prime membership program.

Currently, a Walmart+ membership costs $12.95 per month and includes free shipping on orders and discounts on fuel — plus a free six-month subscription to Spotify Premium.

Media companies have been turning to other industries to find new subscribers, The NYT noted. Verizon and T-Mobile offer their customers free (or discounted) subscriptions to streaming services like Disney+ or Paramount+ as an incentive to sign up. Media companies receive new subscribers who are subsidized by their wireless providers.

Make Your Money Work Better for You

This isn’t Walmart’s first attempt at getting into media streaming. The retailer bought digital video store and streaming service Vudu but later sold it to Fandango in 2020. Walmart also invested in Eko, a developer of interactive video technology.

Discover: 10 Items That Are Always Cheaper at Sam’s Club
More: 7 Walmart Brand Items That Are Just as Good as Name Brands

This news comes less than a week after Walmart announced a corporate layoff due to low profit forecasts. A company spokesperson told Fox Business that Walmart is “further investing in key areas like eCommerce, technology, health & wellness, supply chain and advertising sales and creating new roles to support our growing number of services for our customers, suppliers and the business community.”

More From GOBankingRates

Share This Article:

Make Your Money Work Better for You

About the Author

Josephine Nesbit is a freelance writer specializing in real estate and personal finance. She grew up in New England but is now based out of Ohio where she attended The Ohio State University and lives with her two toddlers and fiancé. Her work has appeared in print and online publications such as Fox Business and Scotsman Guide.
Learn More

Best Bank Accounts for September 2022

Untitled design (1)
Close popup The GBR Closer icon

Sending you timely financial stories that you can bank on.

Sign up for our daily newsletter for the latest financial news and trending topics.

Loading...
Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

For our full Privacy Policy, click here.