Walmart eyes challenging Netflix, Amazon in streaming
Jul. 17, 2018 1:46 PM ETWalmart Inc. (WMT)WMT, NFLX, AMZNBy: Clark Schultz, SA News Editor82 Comments
- Walmart (WMT +0.9%) plans to launch a video streaming service in a direct challenge to Netflix (NFLX -5.4%) and Amazon (AMZN +1.4%), according to The Information.
- "Such a move could be enormously costly for the retailer but would demonstrate its determination to compete on multiple fronts with Amazon in particular," writes Jessica Toonkel, Tom Dotan and Priya Anand.
- The new streaming service would be different than the company's current Vudu on-demand offering.
- Sources says Walmart is looking to price its service below Netflix and Prime at $8 per month.
- A final decision on the dramatic streaming move hasn't been made yet.