Vudu has been a popular streaming service that offers both paid and free (with ads) video on demand. The service was purchased by Walmart in 2019 for a cool US$100 million. This was back when Netflix and other streaming services were just becoming better known.
These days, the streaming market is becoming saturated with Amazon Prime Video, Netflix, CBS All Access, HBO GO, and the latest entrants, Apple TV+ and Disney+. According to The Verge, via The Information, Walmart is looking to offload Vudu and get out of the streaming market.
The Information notes several reasons why Walmart could be looking to sell Vudu now. For starters, the video streaming market is getting increasingly crowded with Apple TV Plus and Disney+ launching next month and HBO Max and NBCUniversal’s Peacock services coming next year. Vudu’s digital rentals and purchases business model has also fallen a bit out of favor in recent years, as all-you-can-eat subscription streaming services have become the norm.
The Verge
Vudu is probably one of the better streaming services when it comes to quality. They have a great selection of 4K and HDR movies, they will cost you but they’re great for watching on your 4K HDR TV. The service is also a part of Movies Anywhere along with Apple and Google Play among others. According to The Verge, sources say the amount of money Walmart is putting into the service is no longer worth it to them.
“Over the last nine years, we’ve built Vudu into an incredibly strong and growing business with an installed base of more than 100 million devices across America,” the company said in a statement to The Information, “We’re constantly having and [are] open to conversations with new and existing partners to explore opportunities for continued growth; however, we never share details of those discussions.”
The Verge
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Last Updated on February 3, 2021.
