Walmart Challenges Amazon Prime Video with New Streaming Benefit for Walmart+ Members

Walmart (WMT) is escalating its rivalry with Amazon (AMZN) by introducing a video streaming benefit for its Walmart+ members. Dubbed Video Streaming Choice, the service will offer complimentary subscriptions to either Peacock Premium or Paramount+ Essential, starting September 15. Subscribers can switch between the two platforms every 90 days, providing flexibility and added value without a price hike.

The MOVE signals Walmart's ambition to compete in the crowded streaming arena, where Amazon Prime Video has long been a dominant player. Deepak Maini, Walmart+'s senior VP, emphasized the company's focus on customer choice and savings, leaving the door open for future streaming partnerships.

Peacock, owned by NBCUniversal, brings popular content like Sunday Night Football and Emmy-winning reality series to the table, while Paramount+ offers its own library of shows and movies. The strategic play underscores the growing convergence of retail and entertainment, as companies vie for consumer loyalty in an increasingly digital marketplace.