Walmart is reportedly working on a new streaming service to compete against the likes of Neftlix and especially, Amazon Prime Video. The US-based retailer is planning to introduce its subscription at an aggressive price point.
According to a report by The Information, Walmart is looking to enter the streaming service market and it could price its monthly subscription plan less than $8 per month, according to people familiar with the matter. If this is believed to be true than it will be surely less than both Netflix and Amazon. The former cost around $10.99, while the latter charges $8.99 a month respectively.
The report further highlights that the company is also looking for an ad-supported free service as well. This is not for the first time Walmart is entering into streaming service. In 2010, the company acquired a digital company known as Vudu, an online store for buying and renting digital movies and shows.
However, Walmart is not the only one which is looking to capture the new streaming market. Apple is also reported to be working on a new platform to rival other competitors. Apple is reportedly working on a single subscription model that would include original TV shows, music service and news. The new service is all set to rival Amazon Prime service and to some extent, Netflix.
In order to bring the new subscription model, the Cupertino-based giant is expected to first launch a digital news subscription service next year, which could combine its Apple News app with a digital magazine service, Texture, which it acquired in March this year.
Secondly, the company will look to bundle the digital new subscription with the video content and its Apple Music subscription service. The report further highlights that the company will allow users to subscribe to sign up for each of the services separately. However, it is not known when the brand will officially introduce the new subscription model.