Walmart announced that it will add a benefit to its subscription service that will make it a real competitor to Amazon Prime. The retail giant has struck a deal with Paramount Global to add its streaming service to Walmart+ starting in September.
Walmart+ members, who currently pay $12.95 a month or $98 a year for unlimited free shipping on orders over $35 across the U.S., will also get a Paramount Plus Essential subscription for free. Walmart membership prices will remain the same, it’s just that the service will now work the same way as Amazon’s Prime Video.
The Paramount Plus Essential plan costs $5 a month or $50 a year and airs content with advertising. In addition, the streaming service offers shows and movies from various production studios, including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures, and Smithsonian Channel. It also broadcasts all CBS Sports events and gives users access to the CBS News Streaming Network and all local CBS stations nationwide.
Earlier this month, the Wall Street Journal reported that Walmart held talks with executives from the Walt Disney Co., Comcast Corp., and Paramount Global. There they discussed the possibility of joining forces to bring one of their streaming products to their users. According to reports, Walmart and Paramount have agreed to a two-year partnership that will give Walmart+ members access to the ad-supported streaming service.
According to Walmart, the membership program is getting more popular every month since it launched in 2020. Paramount also recently revealed that its streaming service is doing well and that it had 3.7 million subscribers in the second quarter of this year, even after exiting Russia. This partnership could boost their numbers even further, as will be seen when the quarterly reports are published.
