With a presence in over 100 countries, streaming services like Netflix and Prime Video have already taken the world by storm. While there are competitors, their limited geographical reach doesn't make them much of a problem.
Surely, some company with a lot of profits could compete with Netflix's streaming service. And it seems that American retail giant Walmart is working on its own streaming service.
According to sources at The Information, the service could be priced at less than $8 per month and offer a free plan with ads. If that's the case, it would be cheaper than Netflix's lowest-priced plan at $8 per month and Prime Video's $8.99 per month.
Speaking of Netflix, the company is spending billions to flood its platform with original movies and TV shows that are released almost daily, but it is also struggling to keep up with the expected growth in its subscriber base.
If Walmart's streaming service ever becomes a reality, it would be Walmart's second attempt at this space. In 2010, the company bought Vudu, but it failed to gain traction.
This move by the company would spark a new wave of streaming services, along with Facebook and Apple, which are reportedly investing in original content.
For Walmart, the task is to offer something compelling enough to pull users away from these popular streaming services. And that certainly won't be cheap for the company.
