Walmart May Launch Streaming Service to Rival Netflix & Amazon

A sign hangs outside Walmart store

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According to The Information, which broke the news, Walmart could try and undercut both Amazon and Netflix on price, or launch an ad-supported video service that could also help drive online retail sales.

Numerous other streaming services offer their original content. Hulu, Disney, Netflix and Amazon have all invested millions into original content. Apple is projected to spend $4.2 billion on original content by the year 2022.

Pay-TV subscription revenue of 6.4 billion pounds in 2017 was down 2.7 percent year-on-year, but still well ahead of the 895 million pounds generated by video streaming services, according to Ofcom's calculations. It certainly has the cash reserves, having generated $17 billion in cash a year ago.

"Today's research finds that what we watch and how we watch it are changing rapidly, which has profound implications for United Kingdom television", said Ofcom chief executive Sharon White. Even if there is, is Walmart someone you want to be getting your original entertainment content from?

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"What's driving subscriptions and renewals may be the originals, but our research shows most of the viewing time is spent with catalog programming", Steve Hasker, Nielsen chief operating officer, told MediaVillage.

However, viewers aged 16-34 watched more non-broadcast than broadcast content - an average of 2 hours 37 minutes a day (54%) across all devices, compared with 2 hours 11 minutes (46%).

"We have seen a decline in revenues for pay TV, a fall in spending on new programs by our public service broadcasters, and the growth of global video streaming giants", she said. These challenges can not be underestimated. No details regarding the type of movies or shows that will be available have been released. Of 3,729 Brits polled by Ofcom, 46% said they never use such services.

Amazon Prime Video had a slightly larger year-on-year growth than Netflix, up by 32.7% to reach 4.8 million subscribers in Q1 of 2018.

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