Walmart (NYSE: WMT) is expanding the entertainment perks for its Walmart+ membership with a new option designed to take on Amazon Prime Video in the streaming aggregation space. Starting September 15th, Walmart+ subscribers will have the choice between two popular ad-supported video streaming services as part of their membership: Peacock Premium and Paramount+ Essential. This upgrade gives members more flexibility to tailor their entertainment without an increase in the membership fee.
This move shows Walmart’s intent to make Walmart+ more competitive by beefing up its digital content offerings alongside its extensive shopping benefits. Launched five years ago, Walmart+ has steadily evolved from a straightforward shipping and grocery delivery program into a more comprehensive membership platform. Today it offers 12 benefits, including free same-day grocery and pharmacy delivery, discounts on fuel, and cashback through a Walmart credit card, all for $98 a year.
The new feature, called “Video Subscription Choice,” allows Walmart+ members to pick either Peacock or Paramount+ at no extra charge. More interestingly, members can switch between these two streaming services every 90 days, giving them a broader range of content without juggling additional subscriptions. This flexibility is relatively rare in the streaming world, where subscribers are usually locked into a single service unless they pay separately.
Peacock Premium is a notable addition because it offers live sports like NBA games and Sunday Night Football, popular Emmy-winning reality shows like The Traitors, original series such as The Paper, and a catalog of blockbuster films. Its wide-ranging live and on-demand content broadens Walmart+’s entertainment appeal, making it a compelling choice for sports fans and reality TV watchers alike.
Paramount+ has been part of Walmart+ since early on and brings its own slate of offerings, including NFL on CBS, UEFA Champions League matches, popular family-friendly shows like SpongeBob SquarePants, and a growing list of original dramas and movies. This extension of the partnership with Paramount+ complements the addition of Peacock, giving members more content diversity within the same price tag.
Walmart’s senior vice president of Walmart+, Deepak Maini, said the inclusion of Peacock adds “even more value and more choice” for members. He emphasized that this enhancement comes without any additional cost, aiming to improve customer satisfaction and appeal. The ability to swap between two premium streaming options also reflects a listening approach to consumer preferences, allowing members to explore different content and decide what suits them best at any given time.
From NBCUniversal’s perspective, the partnership with Walmart is significant. Matt Schnaars, president of platform distribution and partnerships at NBCUniversal, noted that the collaboration gives Walmart+ members easy access to Peacock’s entertainment offerings spanning multiple genres and live sports. For Peacock, this partnership helps expand its subscriber base by tapping into Walmart’s large and engaged membership.
Paramount Global also highlighted the success of its tie-up with Walmart+. Ray Hopkins, president of US distribution at Paramount, celebrated their ongoing partnership, highlighting the platform’s ability to offer blockbuster movies, iconic franchises, and championship sports to Walmart’s sizable membership community.
The timing of this update coincides with Walmart+’s fifth anniversary, underscoring how the service continues to evolve in the highly competitive membership market. Walmart+ has been focused on building a compelling value proposition for its members that combines retail perks with lifestyle benefits. The addition of streaming content is a clear response to Amazon Prime Video’s dominant position, which itself bundles video streaming with shopping benefits.
Amazon remains the biggest player in this arena, boasting a Prime membership with over 100 million users. With Walmart’s newfound video options, it seeks not only to grow its membership but also to keep existing customers engaged and satisfied amid a crowded streaming and retail landscape.
Overall, Walmart is reshaping its membership offer by expanding entertainment choices while maintaining a focus on utility and savings in shopping and delivery. By offering both Peacock and Paramount+, Walmart+ members get to pick the streaming content that best fits their interests and switch up their viewing experiences throughout the year, all on a single membership. This could make Walmart+ a more attractive alternative for consumers who want a bundled experience without having to subscribe to multiple streaming services separately.
While the streaming wars continue to heat up, Walmart’s move adds an interesting twist by blending retail, delivery, and entertainment in one membership package. The success of this strategy will depend on how well Walmart can leverage these perks to attract and keep members in the long run as consumer expectations and preferences evolve.
