Walmart Partners With Paramount+ as It Enters Streaming Business

Walmart, Volt Systems, acquisition

Walmart has announced that Walmart+ members will soon get access to a Paramount+ Essential subscription at no added cost.

Walmart+ members will be able to “stream premium entertainment” as a benefit as part of their membership beginning next month, according to a Monday (Aug. 15) press release. The plan gives Walmart+ members access to Paramount+’s TV shows, movies and live sports. The subscription plan will stay at $98/year or $12.95 per month.

“With the addition of Paramount+, we are demonstrating our unique ability to help members save even more and live better by delivering entertainment for less…,”  said Chris Cracchiolo, senior vice president and general manager of Walmart+, in the release. “Paramount+ has the premium content and broad appeal that our members are looking for…”

The news comes nearly a week after reports emerged that Walmart was meeting with executives from companies like Paramount, Disney and Comcast as it worked to bundle streaming subscriptions into Walmart+ memberships in an effort to compete with Amazon’s Prime Video.

Read more: Walmart’s Streaming Ambitions Latest Attempt to Match Amazon’s Prime Bundle

A partnership with a streaming service allows Walmart to boost memberships in Walmart+, which has about 51 million U.S. subscribers versus the 171 million people using Amazon Prime.

And for companies like Paramount, the attraction is Walmart’s scale and history as an entertainment retailer, which can help these streamers add new subscribers.

Last month, PYMNTS found that Walmart+ members were attracted to discounts on essentials such as fuel and groceries more than Amazon Prime members.

See more: Is Walmart+ Weekend a Prime Day Rival or Trip to the Grocery Store?

“A much larger share of Walmart+ members cite same-day grocery delivery as a key reason for joining the program compared to Prime, whose members predominantly care about free shipping and Prime Video access,” the study stated.