Movie ticketing company Fandango has agreed to buy Walmart’s on-demand video streaming service, Vudu, for an undisclosed sum. The video service today reaches over 100 million living room devices across the U.S. including smart TVs, Blu-ray players, game consoles, and other over-the-top streaming devices, as well as Windows 10 and Mac computers, as well as iOS and Android mobile devices.
To date, the Vudu app on mobile has been installed over 14.5 million times.
As a part of the agreement, Vudu will continue to power Walmart’s digital movie and TV store on Walmart.com.
In addition, Walmart says Vudu customers will have uninterrupted access to their Vudu library. They’ll also continue to be able to use their Walmart login, as well as their Walmart wallet to make purchases on Vudu, the retailer says.
Details as to how Fandango will specifically leverage Vudu weren’t immediately detailed, but Fandango today operates its own movie streaming platform, FandangoNOW, which is an obvious integration. The service has become a more essential business in the wake of the COVID-19 pandemic which has shut down theaters, significantly impacting Fandango’s digital ticketing operations.
As a result, Fandango has put more efforts into tis streaming business. For example, its stream of the newly released “Trolls World Tour,” which skipped its theatrical release due to COVID-19, was the most pre-ordered title in the streaming service’s history, the most-rented digital title on opening day and the best-selling rental during its first three days of digital release, according to Deadline.
Rumors that Walmart was shopping Vudu around have been reported for many months. In February, Walmart was said to be in discussions with Comcast, which could have leveraged the platform for its newly launched streaming service Peacock.
Walmart’s interested in an online movie purchase and rental marketplace may have dwindled in recent months, as competition from other major players has ramped up. WarnerMedia is preparing HBO Max; NBCU just launched Peacock; Apple TV+ and Disney+ are also live.
However, Walmart had been planning the release of a slate of original content on Vudu as well as shoppable ads, powered by technology from its joint venture with interactive content startup Eko. Its first original series, a reboot of “Mr. Mom,” debuted last September.
“We will continue to invest in areas where we have the greatest strength and are in the best position to serve our customers today and in the future,” a Walmart spokesperson noted in a statement. “Pickup and delivery are great examples of how we’ve invested to bring digital and physical capabilities together to better serve our customers, by offering more choice and convenience. We’re focused on serving customers through these type of omni-retail experiences and we’re actively prioritizing our investments to maximize our strengths and serve them in new ways,” they added.
The acquisition is expected to close in the months ahead, says Walmart.
More to come….
Source: TechCrunch https://ift.tt/2RUQaRN
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