Walmart plans SVOD service to take on Netflix

WalMartOnline

For the first time, the number of Brits who subscribe to streaming platforms has exceeded those who pay for traditional satellite and cable services, according to United Kingdom media regulator Ofcom. Between Netflix, Amazon, Hulu and the countless other streaming services to emerge in recent years, TV and movie fans have reached a point where it's downright impossible to keep up with everything, but don't get your hopes up that it's all gonna slow down anytime soon.

Walmart already owns Vudu, which offers rental and streaming services for movies.

A new streaming service wouldn't be Walmart's first foray into online video. It could be priced at less than $8 a month, according to one of the people cited by the report, which would put its monthly rate below that of both Netflix and Amazon Prime Video - though Walmart is also mulling over an ad-supported free service. It certainly has the cash reserves, having generated $17 billion in cash a year ago.

The Ofcom report also found that the amount of time spent by United Kingdom viewers watching broadcast television on the TV set has continued to decline and, in 2017, stood at an average of 3 hours 22 minutes a day, down nine minutes on 2016, and 38 minutes since 2012.

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But UK broadcasters have a history of adapting to change.

But the shift is undeniable - as smart devices proliferate, broadcast television viewing sessions fell to just around three hours a week on average. Of those who watch public service channels, 75% say they are satisfied, and 84% of people considered trusted news to be the most important feature of their output.

The Bentonville, Ark. -based retailer sees an opportunity to undercut Netflix and Amazon on price. Free services like Tubi and Roku Channel have libraries of nonexclusive movies and TV shows, while Sony's Crackle combined shows from Sony's library with exclusive original programming and non-exclusive acquired shows.

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