Walmart Delivers New Benefit for Walmart+ Members: A Paramount+ Subscription at No Extra Cost

Rhea-AI Summary

Walmart is enhancing its Walmart+ membership by adding a Paramount+ Essential Plan at no additional cost, effective September. Members can enjoy popular shows and movies, boosting the membership's perceived value without a price increase ($98/year or $12.95/month). This move aims to attract more subscribers as 85% of U.S. households use streaming services. Walmart’s strategy focuses on providing comprehensive benefits, as evidenced by positive member growth since its launch in September 2020.

Positive

• Walmart+ members gain access to Paramount+ Essential Plan at no extra cost, adding $59 value.
• Walmart+ membership remains at $98/year or $12.95/month, enhancing value for customers.
• 85% of U.S. households use streaming services, potentially expanding Walmart+'s member base.

Negative

• None.

In the latest move to give customers more for less, Walmart+ members will get access to a Paramount+ Essential Plan – without raising prices

BENTONVILLE, Ark.--(BUSINESS WIRE)-- Walmart is taking its membership offering to the next level by adding a new streaming benefit. Walmart+ will soon be available for members with an added bonus – a Paramount+ Essential subscription at no extra cost.

Walmart+ members will be able to stream premium entertainment as a benefit for the first time as part of their membership starting in September. The Paramount+ Essential Plan will give Walmart+ members access to Paramount+’s breadth of hugely popular content from acclaimed original dramas such as "1883" and "Star Trek: Strange New Worlds," to the world's most popular preschool franchise, "PAW Patrol," to recent blockbuster films such as "Sonic the Hedgehog 2," to live sports.

The streaming service benefit becomes yet another way Walmart is uniquely positioned to give members more for less with Walmart+, whether in-store, at the gas pump, on groceries, listening to music, and now when watching their favorite movies and shows. Walmart+ will remain $98 a year or $12.95 a month and include the Paramount+ Essential Plan subscription with an added $59 value.

“We know Walmart+ is providing members real value in their every day – from grocery shopping to filling up their tank and more,” said Chris Cracchiolo, senior vice president and general manager of Walmart+. “With the addition of Paramount+, we are demonstrating our unique ability to help members save even more and live better by delivering entertainment for less, too. 85 percent of U.S. households use streaming services[1] and Paramount+ has the premium content and broad appeal that our members are looking for – like Walmart, they have something for everyone. We’re excited about the launch and what comes next for Walmart+.”

“Paramount has enjoyed a close relationship with Walmart for years, and Walmart customers connect with Paramount's beloved brands, content, and characters every day through a range of consumer products available throughout Walmart stores," said Jeff Shultz, chief strategy officer and chief business development officer, Paramount Streaming. “Now, pairing Walmart’s expansive reach across the country with Paramount+'s broad and popular content that offers something for everyone is a unique opportunity to expand our partnership. Together we will bring Walmart+ members the full breadth of Paramount+ programming.”

Walmart is consistently evolving to deliver against what’s most important for members – as a result, Walmart+ has had positive member growth every month since its launch in September 2020. Most recently, the retailer combined its InHome service into Walmart+ to create efficiency for members. As members seek more ways to save money, they can now consolidate a portion of their subscriptions and get entertainment through the membership.

For more information about how to become a Walmart+ member, please visit https://www.walmart.com/plus.

[1] https://www.kantar.com/north-america/inspiration/technology/85-per-cent-of-us-households-have-a-video-subscription-service

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and numerous eCommerce websites under 46 banners in 24 countries. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting https://corporate.walmart.com, on Facebook at https://facebook.com/walmart and on Twitter at https://twitter.com/walmart.

About Paramount+

Paramount+, a direct-to-consumer digital subscription video on-demand and live streaming service, combines live sports, breaking news and a mountain of entertainment. The premium streaming service features an expansive library of original series, hit shows and popular movies across every genre from world-renowned brands and production studios, including BET, CBS, Comedy Central, MTV, Nickelodeon, Paramount Pictures and the Smithsonian Channel. The service is also the streaming home to unmatched sports programming, including every CBS Sports event, from golf to football to basketball and more, plus exclusive streaming rights for major sports properties, including some of the world’s biggest and most popular soccer leagues. Paramount+ also enables subscribers to stream local CBS stations live across the U.S. in addition to the ability to stream CBS News Streaming Network for 24/7 news and CBS Sports HQ for sports news and analysis.

For more information about Paramount+, please visit www.paramountplus.com and follow @ParamountPlus on social platforms.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005678/en/

Rachel Nipper

1-800-331-0085

news.walmart.com/reporter

Source: Walmart Inc.