Walmart+, the retailer’s Prime competitor, will add Paramount+ access as a new perk – TechCrunch

Walmart is co-operate with Paramount Global to offer its streaming service, Paramount+, to members of its own free shipping program Walmart and rival Amazon Prime, Walmart +. The deal was first confirmed by The Wall Street Journal on Monday afternoon, following recent news of the retailer’s discussions with major media companies about such a deal.

Walmart has now officially announced the news of its deal but did not say when access to the steaming service will roll out to Walmart+ members.

However, the retailer said the deal will see Walmart+ members gain access to a Paramount + Essential Plan subscription – an additional $59 – while the price of their own membership will keep stable.

Introduced in September 2020, Walmart + $98 per year subscription includes many benefits, including free same day shipping, fuel price reductionfree shipping from, Deliver to home, contactless payments with Scan and goand early access to deals. Walmart also has partnership with Spotify to give members 6 months of Spotify Premium for free.

In addition to the annual fee, consumers can choose to pay Walmart+ at $12.95 per month for the same perks.

Last week, The New York Times reported Walmart discussed with several major media companies about a possible bundle deal with Walmart+. According to The NYT, Walmart has spoken with Paramount, Disney, and Comcast about combining its shipping membership program with Paramount+, Disney+/ESPN+/Hulu or Peacock, respectively.

The new partnership with Paramount not only gives Walmart a more competitive offering to rival Amazon Prime – including its Prime Video streaming service – but could also help boost its lagging Walmart+ subscriptions. .

An August 2022 report by Consumer Intelligence Research Partners (CIRP) found that Walmart+ membership subscriptions have continued to stabilize and are now declining slightly on a quarterly basis. It said that as of this July, 11 million US customers are Walmart+ members, the same as in the April 2022 quarter, and up from 9 million customers in the July 2021 quarter. But the report points out that membership program is yet to develop in 2022.

“For the last three quarters, membership has been flat at 11 to 11.5 million customers,” notes Josh Lowitz, co-founder of CIRP. Prior to that, he added, “Walmart+ membership has steadily increased since Walmart introduced the program in September 2020, with COVID-19 pandemic shoppers signing up.”

Walmart has not officially revealed how many of its customers are currently Walmart+ subscribers. However, CIRP estimates that Walmart+ penetration was 25% in the July 22nd quarter, which means 25% of customers reported being Walmart+ members. This is up from 17% of customers in the July 2021 quarter, analysts say. (The company’s forecast is based on surveys, in this case around 500 US consumers. Ky made a purchase between May and June 2022.)

Another study by Morgan Stanley, referenced by the Journal, estimates Walmart+ has grown to about 16 million members.

For Paramount+, the distribution deal through Walmart+ will give it a competitive edge of its own in an increasingly crowded streaming landscape, where it has to go head to head with leading services like Netflix, Disney+, and Netflix. , HBO Max, Apple TV+ and Peacock. Earlier this month, Paramount said the Paramount+ service has grown 43 million subscribers and have long-term goals rather than achievable 100 millions subscribers in 2024.

The service streams some popular shows, including original shows like 1883 ″ and “Star Trek: Strange New Worlds,” the preschool franchise, “PAW Patrol,” movies like ” Sonic the Hedgehog 2”, live sports, etc

Walmart was unable to immediately comment on the WSJ’s report but we understand it to be accurate. We will update when more are available.

Update 8/15/22, 4:18 PM ET: Walmart has officially confirmed news.

“We know Walmart+ is providing members with real value in their every day – from grocery shopping to refills,” said Chris Cracchiolo, Senior Vice President and General Manager of Walmart+. average and more,” Chris Cracchiolo, Senior Vice President and General Manager of Walmart+, said in a statement. “With the addition of Paramount+, we are demonstrating our unique ability to help members save more and live better by providing entertainment at a lower cost. 85 percent US households using streaming services and Paramount+ have the premium content and broad appeal our members are looking for – like Walmart, they have something for everyone . We’re excited about the launch and what’s next for Walmart+,” he said.

This is not the first time Walmart has entered the streaming market. Company acquires video on demand service Vudu in 2010 but sold it to Comcast’s Fandango in 2020. It also invest in interactive video company Eko and cooperation with Roku in June to bring shoppable advertising to the online media platform.

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