In the midst of its rivals like Disney, NBC, Apple, Viacom and others are considering to launch new streaming video services for cord cutters, Walmart is reportedly dumping its plan for the same, according to people familiar with the matter.
For its new streaming product, last year Walmart remained in discussion with veteran media executive Mark Greenberg, but due unsuccessful conclusion of the talks, the retail giant decided to halt the progress, said the people, who asked not to be named because the discussions were private.
Walmart had acquired the video service Vudu in 2010 and after dropping its plan of new streaming service, Walmart decided to focus on strengthening of Vudu.
Vudu, after Aple and Amazon, is on third place in pay-per-view digital video and it offers a variety of shows and movies for free with ads or for rented or owned purchases.
For content creators, an inspiration came from the initial success of “Roseanne” revival last year, led them to aim for that type of audience and development of a new service aiming at Middle America remained the center point of the talks between Walmart and Greenberg who previously remained the Chief Executive Officer of Epix, a premium movie service, the people said.
Those talks gone in vain for Walmart’s hesitations to spend heavily in a business of content, to which it is inexperienced and where it’s rival can spend comparatively many times larger in investments. Netflix is expected to be spending more than $10 billion on new movies and TV shows in 2019, as analysts’ estimates. Walmart’s head of e-commerce, Marc Lore, has been heading the Vudu’s business.
Vudu, while remaining focused on broader library of shows and movies, has made alittle advancement towards original content by agreeing to make a digital series of 1983 comedy “Mr. Mom”.