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Walmart reaches streaming deal with Paramount+
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Walmart Inc. has agreed to a deal with Paramount Globa to offer the entertainment company’s Paramount+ streaming service to subscribers of Walmart’s membership program, according to people familiar with the discussions.
Walmart has been exploring a subscription video-streaming deal to draw more people to Walmart+ as it seeks to challenge Amazon.com Inc., which has grown its own Prime membership program to around 200 million global members.
Walmart and Paramount declined to comment. Walmart is scheduled to announce quarterly earnings Tuesday.
Walmart executives have held talks in recent weeks to discuss a streaming deal with executives at Walt Disney Co., Comcast Corp. and Paramount Global, according to a Wall Street Journal article last week.
WALMART MAY BREAK INTO STREAMING MARKET IN POTENTIAL DEAL WITH DISNEY, PARAMOUNT, AND COMCAST
Paramount Global runs the Paramount+ service, which has shows such as "Halo" and a "Star Trek" series. The company said this month that Paramount+ had more than 43 million subscribers at the end of its latest quarter.