Walmart may not launch its own streaming service after all.
The company is walking away from plans to develop its own streaming service, according to a Friday report from CNBC. The retail giant reportedly decided not to pursue the service after talks with media expert Mark Greenberg fell apart last year.
However, a person familiar with the matter told Techhnews that Walmart never planned to develop any streaming service.
Speculation about Walmart’s streaming future comes as several big players, including Disney, AT&T, Apple, and NBC, are expected to launch their own streaming services to compete with Netflix and Amazon Prime Videos. In July, Variety reported that Walmart planned to launch its independent streaming service through Vudu, a video subscription service Walmart bought in 2010.
Walmart will focus on further developing Vudu, a platform where customers can buy and rent digital movies and shows.
“Vudu is an important platform for us, and we continue to invest in it,” said Tara Raddohl-House, a Walmart spokesperson, in an email statement. “We are always looking at new ways to serve customers, but have nothing to announce related to video streaming service.”
First published on Jan. 18, 10:25 a.m. PT.
Updates, 1:10 p.m. PT: Adds Walmart spokesperson Tara Raddohl-House statement.
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