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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Business

Walmart will launch streaming service on Vudu

Can Walmart compete with Amazon?

Walmart announced this week that they will launch their own streaming service, through Vudu, to compete with Amazon and Netflix.

Vudu is a Walmart-owned platform that allows consumers to purchase and watch videos and television shows — it’s essentially like a video store in your home.  But now, they want to bring streaming services onto Vudu to attract more consumers and take away potential users from Netflix and Amazon.

According to reports, the new Vudu could cost less than $8, which favors well against Netflix – Netflix’s basic, standard, and premium plans price at $8, $11, and $14, respectively. Clearly, Walmart will continue its successful strategy of targeting low- and mid-level income consumers who do not want to pay as much for Netflix.

But beyond Netflix, this strategy seems to be another step to gain grounds over Amazon. The two commerce giants both fight for the same consumers, and Amazon has been keeping Walmart on its toes in recent years. If Vudu can be successful – or at least more so than Amazon Prime Video – then Walmart may finally gain its competitive advantage over the e-commerce mogul.

Vudu did not comment on the news, but investors certainly seem happy. Their stock has jumped slightly this week and has risen over 5 percent in the past thirty days.

It is unclear whether or not Vudu will be successful, but this is a smart move for Walmart if it hopes to challenge Amazon and/or Netflix.

Featured Image via Public Domain Pictures


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