Walmart (NYSE:WMT) stock is in the spotlight Wednesday on reports that the retailer is seeking to sign a deal with a streaming service.
According to recent reports, Walmart wants to work with a major streaming provider to add its services to Walmart+, the company’s subscription service that offers customers benefits for $12.95 per month. These benefits include free shipping, fuel discounts and a free six-month subscription to Spotify (NYSE:SPOT). Now, Walmart wants to sweeten the deal further by including a streaming service.
Who Will Walmart Pick as Its Streaming Partner?
So far, the reports don’t pin down an exact target for Walmart. But they do note that the retailer has been in talks with Paramount (NASDAQ:PARA), Disney (NYSE:DIS) and Comcast (NASDAQ:CMCSA) over the last few weeks.
It makes sense that Walmart wants to offer streaming content to its subscription subscribers. Amazon (NASDAQ:AMZN) already does the same via its Prime Video service. The two companies are fierce rivals in the e-commerce space.
This also wouldn’t be the first time Walmart has taken an interest in video streaming. The company already tried its hand at streaming with Vudu, but it ended up selling the service in 2020.
WMT stock is largely unmoved from Tuesday’s closing price as of Wednesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.