REPORT: Walmart partners with MGM for exclusive video service
As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by REUTERS.COM:
NEW YORK (Reuters) – Walmart Inc (WMT.N) said on Monday it will partner with U.S. movie studio Metro Goldwyn Mayer to create content for its Vudu video-on-demand service, which the retailer bought eight years ago.
Walmart has been trying to prop up Vudu’s monthly viewership that remains well below that of competitors like Netflix Inc (NFLX.O) and Hulu LLC, which is controlled by Walt Disney Co (DIS.N), Comcast Corp (CMCSA.O) and Twenty-First Century Fox Inc (FOXA.O).
The article goes on to state the following:
Walmart and MGM will make the announcement at the NewFronts conference in Los Angeles on Wednesday and unveil the name of the first production under the partnership, which Walmart will license from MGM.
“Under this partnership, MGM will create exclusive content based on their extensive library of iconic IP (intellectual property), and that content will premiere exclusively on the Vudu platform,” Walmart spokesman Justin Rushing told Reuters.
The focus will be on family-friendly content that Walmart customers prefer, Rushing said.
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