Walmart wants to be Netflix
Walmart is taking one giant leap toward developing its much-rumored streaming service.
The retail giant has recently been the center of attention with recent rumors that it is planning on releasing an affordable streaming service in the U.S. as it looks to attract more consumers to its digital offering. The company recently hired Mark Greenberg, former Chief Executive Officer of Epix -- a cable network veteran, according to Variety. Walmart already owns the lesser known Vudu video-on-demand platform.
Walmart’s efforts to become more digital-focused is not new news, for the company has been investing in grocery delivery services, automated kiosks, same-day delivery and most recently business to consumer cloud control. Earlier in July, Walmart announced a cloud computing partnership, as it looks to better compete with Amazon and Target.
Despite its name recognition, Walmart will still have high competition if they develop a new streaming service since Netflix and Amazon are not the only video streaming companies. The company would be competing with Hulu, AT&T, YouTube, Sony and Dish, all of which are trying to drive traffic to their on-demand or live video subscriptions.
Walmart has not yet made any kind of statement one way or the other on whether it’s launching a video streaming service.
Read more about Walmart’s plans to launch a Netflix competitor here.