Walmart and Paramount+ agree to streaming bundle deal

Paramount Global reached a deal with Walmart Inc. to offer its streaming service to subscribers of the retail giant’s membership program, according to people familiar with the plans. Under the agreement, Walmart+ members will have access to the Paramount+ streaming service, the people said on Monday. Financial terms of the arrangement weren’t immediately available. Subscribe to Ad Age Sign up now for the latest industry news and analysis Click here Shares of Paramount briefly rose as much as 4.5% before paring gains. The news of an agreement was first reported by the Wall Street Journal. The relationship is similar to ones other streaming services have used to acquire customers. Walt Disney Co.’s Disney+ launched as a free add-on for Verizon Communications Inc. customers and T-Mobile US Inc. has a similar deal with Netflix Inc. Walmart was in the streaming-video business for a time before selling its on-demand service, Vudu, to Comcast Corp.’s Fandango two years ago. Walmart rival Amazon.com Inc. has been a big splash in online TV, tying its Prime Video service to its overall subscription offering, which offers free shipping and other perks. Sign up for Ad Age newsletters From influencer marketing to agencies, get the latest news and analysis delivered to your inbox Click here —Bloomberg News

Walmart and Paramount+ agree to streaming bundle deal

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