Walmart to make its own Netflix-like streaming service?

Between Netflix, Hulu, HBO Now, YouTube TV and more, there are a lot of streaming TV services competing for your attention, and with Disney and DC readying their own products — not to mention Amazon throwing its hat into the original content game in a big way — things are just going to get more crowded. Now, The Information reports that Walmart is thinking of entering the fray.

The Information cites “anonymous sources,” so take all of this with a grain of salt. Reportedly, Walmart thinks its own branded streaming service could do well in middle America, since Netflix and its ilk “are seen as more popular with people on the East and West Coasts of the U.S.”

Does Chicago count as Middle America, or am I a coastal elitist who loves Stranger Things? A question for another article.

Anyway, we don’t know if Walmart’s service (Walflix? StreamMart?) would come with its own original content or if it would only license movies and TV shows that are already out, further fragmenting where that stuff is available. The Information has it that the service would launch at a price point of $8 per month. That’s cheaper than the competition, but the trade-off is that Walflix could have advertising embedded right into the platform.

Walmart has been losing market share to streaming services for a while, with fewer people buying Blu-rays at its brick-and-mortar stores. But then again, streaming services are facing difficulties, too; Netflix stock dropped 14% after it added fewer subscribers than expected last quarter, according to The Wrap. We may be getting to the point where just about everyone who wants Netflix has it. In that environment, is there really room for more competition?

Next: Anne Rice’s Vampire Chronicles TV show coming to Hulu

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h/t SyFyWire