What's Happening?
Walmart+ is set to enhance its membership offerings by adding Peacock to its streaming options starting mid-September. This move marks the fifth anniversary of Walmart+ and aims to provide members with greater flexibility in their entertainment choices. Members will have access to ad-supported plans of both Peacock and Paramount+ at no additional cost, with the ability to switch between the two services every 90 days. This initiative is designed to cater to diverse entertainment needs, positioning Walmart+ as a dynamic subscription service. The cost of a Walmart+ subscription is $98 annually or $8.17 monthly, with discounts available for those on government assistance.
Why It's Important?
The addition of Peacock to Walmart+ is a strategic move to compete with Amazon Prime, which offers a similar subscription-based delivery and streaming service. By expanding its streaming options, Walmart+ aims to attract more subscribers and enhance its value proposition. This could potentially increase Walmart's market share in the streaming industry, challenging Amazon's dominance. The move also reflects the growing trend of retail companies integrating streaming services to boost membership and customer engagement.
What's Next?
Walmart+ members can expect the new streaming options to be available starting September 15. The company may continue to explore additional partnerships and enhancements to its membership offerings to further compete with Amazon and other streaming services. The success of this initiative could lead to more retail companies adopting similar strategies to integrate streaming services into their membership models.
