Entertainment

Walmart reportedly discussing plans with Disney, Paramount, and Comcast to add streaming to Walmart+

The New York Times reported that “in recent weeks,” discussions have taken place between Walmart, Disney, Comcast and Paramount about adding a streaming service to Walmart Plus.

The model would be similar to Amazon Prime, which offers free streaming and delivery (on certain products) for a fixed monthly fee. Walmart Plus is currently priced at $12.95 and includes benefits such as a free subscription to music streaming service Spotify’s SPOT.N premium music.

The Times went onto say that its “unclear” if any of the three aforementioned companies “are inclined to reach a deal with Walmart” at this stage.

The talks come not long after Walmart took the decision to announce redundancies after receiving low profit forecasts. “We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” a Walmart spokesperson told FOX Business last week.

“At the same time, we’re further investing in key areas like eCommerce, technology, health & wellness, supply chain and advertising sales and creating new roles to support our growing number of services for our customers, suppliers and the business community,” the statement went on to say.

Walmart blamed the slump on inflation and also high gas prices. Walmart said the increasing cost of goods along with the cost of customers getting to the store have caused them to strip their shopping back to essentials.

Walmart CEO Doug McMillon said in a statement, “The increasing levels of food and fuel inflation are affecting how customers spend, and while we’ve made good progress clearing hard-line categories, apparel in Walmart U.S. is requiring more markdown dollars.”

Walmart have not yet commented on the report, while Paramount, Disney and Comcast did not immediately respond to Reuters’ requests for comment. This is not Walmart’s first venture in streaming. They acquired Vudu back in 2010, when streaming was still in its infancy.

ARTICLE: PAUL MURDOCH 

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: FAYERWAYER.COM

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Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

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