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Walmart strikes exclusive streaming deal to give Paramount to Walmart+ subscribers – Latest US News Hub

In this photo illustration, a silhouette of a woman holds a smartphone with the Walmart logo displayed on the screen and in the background.

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Walmart has reached a deal with Paramount Global to offer its streaming service as a perk of the retailer’s Walmart+ subscription service, a person familiar with the matter said.

The retailer launched Walmart+ nearly two years ago to drive sales and deepen customer engagement. The membership program is the company’s answer to Amazon Prime and includes perks like free grocery delivery and gas discounts.

Since launching the service, the retail giant has declined to share the total number of subscribers and specifics about how the service is performing. According to estimates by market research firm Consumer Intelligence Research Partners, its membership numbers appear to have plateaued. Walmart+ had 11 million customers as of July — the same as it estimated in April.

Paramount+ is one of many services competing for eyeballs in the streaming world. This includes movies and shows like “Star Trek,” “The Godfather” and “SpongeBob SquarePants.” Paramount Global announced earlier this month that Paramount+ has 43.3 million subscribers worldwide. The company aims to reach 100 million subscribers by 2024.

The deal with Walmart will give Paramount+ a new distribution channel to add customers and also give the company a branding boost. Paramount+ is the only streaming service that has a deal with Walmart and wanted to launch exclusively to get full marketing attention, said a person familiar with the deal who was not authorized to speak publicly about it.

Walmart+ subscribers get access to Paramount+’s “Essential” tier, which normally costs $4.99 per month and includes ads. Paramount sells a premium product without ads for $9.99 per month.

Walmart declined to comment. Paramount did not immediately respond to a request for comment. The Wall Street Journal first reported news of the deal.

Walmart will report its second quarter earnings on Tuesday.

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Walmart strikes exclusive streaming deal to give Paramount to Walmart+ subscribers


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