August 16, 2022
This is survival of the fittest right now.Technology industry analyst and strategic advisor at Lopez Research, Maribel Lopez, referring to Walmart’s recent announcement to offer the Paramount+ streaming service as part of their membership program. A growing number of companies are bundling content to boost customer numbers.
- Why It Matters: Walmart, the highest grossing retailer in the United States, just announced a streaming deal with Paramount Global (parent company of Paramount+ streaming service) in order to boost Walmart’s membership program. The deal is seen as an accelerated attempt to compete with Amazon, the second-highest grossing retailer in the U.S.
- Background: Walmart launched their Walmart+ program in 2020; the new deal with Paramount+ will be included in the $98/year membership. Amazon has also made recent additions to their Amazon Prime $139/year membership subscription, such as including a year of Grubhub restaurant delivery.
- Something to Consider: A recent study suggests almost 2/3 of consumers make in-store purchases at Walmart each month. For more about the study, click here.
Walmart Reaches Video-Streaming Deal to Offer Paramount+ to Members (Wall Street Journal)
by Jenna Lee,