UK Internet Video Streaming Services Overtake Traditional Pay TV

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Walmart mulls video streaming service to rival Netflix, Amazon: report

This wouldn't be the first time Walmart has tried to compete with Netflix.

The Information, which cites people familiar with the plans, reports that Walmart is considering ways it can stand out in the crowded streaming video market. However, this figure includes subscriptions to multiple on-demand services within one household: 11.1 million households (39.4%) have at least one of either Netflix, Amazon or NOW TV. There's no denying the allure of being able to binge-watch an original series in any place with accessible WiFi.

Growth has been explosive: in 2012, the year Netflix launched in the United Kingdom, subscription on-demand revenues were just £52m. Well, Walmart has already had an ad-supported video streaming service now for over a year with Vudu.

The amount of time spent in front of the TV is also on the way down - average daily viewing on the television set fell by nine minutes in 2017 - and has fallen by 38 minutes since 2012. But neither Movies on Us nor Vudu are anyway near as popular as Netflix or Amazon Prime Video, and Walmart likely wants to grab some of the eyeballs that Netflix and Amazon pull in every day.

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Ofcom Chief Executive Sharon White said the rapid change in what we watch and how we watch had profound implications for the United Kingdom television industry.

We have seen a decline in revenues for pay TV, a fall in spending on new programmes by our public service broadcasters, and the growth of global video streaming giants.

By contrast, the dramatic increase in the popularity of the Silicon Valley streaming services in the United Kingdom fuelled a 28% surge to £2.3bn in what Ofcom terms online audio-visual revenues. The shift away from music ownership towards streaming was reflected by a 25% drop in sales of music downloads.

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