Walmart wants to take on Amazon Prime Video in the video aggregation space, overhauling its subscription offering with a new benefit called “Video Subscription Choice,” and adding Peacock as a partner.
The retail giant on Monday announced its new plan, which includes an extension of its deal with Paramount+, originally signed three years ago. The new offering will see subscribers to its Walmart+ bundle be able to choose between a complimentary subscription to Peacock’s premium tier, or the Paramount+ essential plan. Subscribers can also switch between Paramount+ and Peacock every 90 days, if they so choose.
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The choice-based offering also leaves open the possibility of Walmart adding other streaming services as potential options in the future.
“The additional option of Peacock Premium adds even more value and more choice to our membership, without raising the price,” said Deepak Maini, senior VP of Walmart+. “By offering the ability to switch between two top-tier video streaming services, we’re empowering our members to customize their entertainment experience and enjoy significant savings. This is just one of the many ways we’re evolving Walmart+ to meet the needs and wants of today’s consumer.”
For Walmart, which is challenging Amazon in the digital retail and subscription space, adding to its streaming video options helps it more effectively challenge Amazon, which has a robust streaming service of its own in Prime Video, and also sells access to other streaming services, including as of last week Peacock.
Peacock, meanwhile, continues to expand accessibility and bundle options, something that the company has mostly eschewed until now. Paramount+ also gets to extend its existing agreement with Walmart, presumably because it has been successful in delivering wholesale subscribers to the service.
“This expanded partnership strengthens our collaboration across the NBCUniversal enterprise with Walmart and gives Walmart+ members seamless access to the wide variety of Peacock’s entertainment offering,” said Matt Schnaars, president, platform distribution and partnerships, NBCUniversal. “Whether it’s live sports like the upcoming NBA season, Sunday Night Football, Emmy-winning reality series like The Traitors, original series including The Paper, or blockbuster films, Peacock has something for everyone.”
“Our partnership with Walmart has been a tremendous success in delivering Paramount+ as the first premium entertainment streaming service benefit for Walmart+ members,” adds Ray Hopkins, president, US distribution, Paramount. “We’re thrilled to celebrate this milestone anniversary with the extension of our partnership, continuing to bring blockbuster movies, iconic franchises, hit originals, and championship sports from our leading portfolio to one of the largest and most engaged member bases in the country.”
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