American entertainment company Paramount Global has partnered with retail giant Walmart to include its signature streaming service -- Paramount+ -- as part of the newly launched Walmart+ membership program.
For Walmart, the new partnership works to make Walmart+ more enticing for shoppers by adding a free streaming add-on to its service. In theory, this should make Walmart more competitive with Amazon, which offers Amazon Prime as an add-on for all its members. Now, Walmart+ will include same-day deliveries on over 160,000 Walmart products, discounts on gas and other products, and a free subscription to Paramount+, which just launched in 2020.
As of right now, Walmart has approximately 16 million active members, all of whom will receive a subscription to Paramount+ sometime in the coming weeks.
Retail Streaming Service Add-Ons
Walmart+ Members Will Now Get a Free Subscription to Paramount+
Trend Themes
1. Streaming Service Retail Partnership - Partnering with retailers to offer streaming services as a part of their membership program creates new opportunities for streaming services to tap into new customer bases.
2. Comprehensive Retail Membership Programs - Offering comprehensive membership programs with multiple amenities including entertainment streaming service subscriptions can provide retail enterprises with an edge in terms of customer loyalty and acquisition.
3. Retail and Entertainment Industry Partnership - This partnership gives an opportunity for retailers to provide customers with more exclusive access to entertainment streaming services, leading to increased customer retention and engagement.
Industry Implications
1. Retail Industry - Retailers can offer comprehensive, multifaceted membership programs including streaming services to drive customer traffic and loyalty, leading to greater customer engagement and retention.
2. Entertainment Industry - Partnering with retailers to offer entertainment streaming services as a part of their membership plans leads to market reach expansion, not possible in traditional streaming media distribution channels.
3. Technology Industry - Increased industry partnerships in the technology sector would benefit both retailers and streaming services in delivering a wider range of services and products to customers.