Walmart may be planning its own streaming video service to take on the likes of Netflix and Amazon, the Information reports. In addition to Netflix and Amazon Prime Video, both of which have more than 100 million people with access to their respective subscription video offerings, Walmart would be competing with the likes of Hulu, YouTube, AT&T, Dish and Sony, all of which are trying to lure customers to their on-demand or live video subscriptions. In 2010, Walmart acquired on-demand video service Vudu.
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Ofcom Chief Executive Sharon White said the rapid change in what we watch and how we watch had profound implications for the United Kingdom television industry.
The time and resources needed to gain a foothold in streaming raise another problem: by the time a streaming service launches, the market will be even more crowded, and existing leaders may be even more entrenched.
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Among children and viewers aged 16-34, the decline was steeper, leading to the over-65s watching four times as much broadcast television as children in 2017.
The shift in the way TV content is consumed caused the amount of revenue generated from pay-TV to fall for the first time after years of sustained growth, the research found. No details regarding the type of movies or shows that will be available have been released. These challenges can not be underestimated.
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While taking on Netflix and Amazon on pricing sounds like something Walmart would do, the report notes that there is the possibility that Walmart will decide not to enter such a capital and tech-intensive business, and just drop the idea. "By making the best British programs and working together to reach people who are turning away from TV, our broadcasters can compete in the digital age".