Walmart is considering a sale of its Vudu video streaming service, according to a new one report of The information. It is not known for how much the company wants to sell the service, nor whether it has engaged bankers to help with the sale. Walmart bought back Vudu in 2010 for $ 100 million.
The information points out several reasons why Walmart now wants to sell Vudu. To start with, the video streaming market is getting busier with Apple TV Plus and Disney + being launched next month and HBO Max and NBCUniversal & # 39; s Peacock services next year. Vudu's business model for digital rentals and purchases has also become somewhat out of favor in recent years, as all-you-can-eat streaming services have become the norm for subscriptions.
Vudu has always been considered one of the better places to stream a movie because the service focuses on video quality and HDR presentation. It was also a central player in UltraViolet, with a disc-to-digital program that customers could use to add their movie collection to the cloud. Vudu now also supports Movies Anywhere.
Walmart is not shy about investing in Vudu. Earlier this year, it announced a slate of original content, led by a restart of the 1983 film Mr. Mom, which premiered last month. Behind the scenes it is reportedly also being considered to offer "shoppable" TV programs & movies, and The information reported that it even considered launching a streaming service for subscriptions last year. However, sources now show that the amount of investment required to reverse Vudu is no longer useful for Walmart.
"Over the past nine years, we've built Vudu into an incredibly strong and growing company with an installed base of more than 100 million devices across America," the company said in a statement to The information, “We are constantly open and open to discussions with new and existing partners to explore opportunities for further growth; however, we never share details of those discussions. "