The new offering will cost $98 a year, with subscriber benefits including same-day delivery of groceries and discounted gas, according to an initial report in Recode that was later confirmed by Bloomberg. A Walmart spokesperson, in response to a query Deadline the company didn’t “have anything to share right now.”
Video, both original programming and third-party streaming, has been an integral part of Prime. In similar fashion, Walmart+ is planning video elements, though even the unconfirmed reports about the overall service are murky when it comes to details.
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Walmart on Wednesday is kicking off its “Camp by Walmart” initiative, which features a drive-in movie collaboration with Tribeca Enterprises as a well as video offerings tied to celebrities. The company is teaming up with Drew Barrymore, Neil Patrick Harris, LeBron James, Idina Menzel and Todd Oldham to deliver a lineup of 50 virtual summer camp experiences. The internet effort is a partnership with the retail startup Camp and interactive video platform Eko. Each big name will serve as a “counselor,” leading kids through sessions varying from arts and crafts to fitness and other activities to keep them engaged as the U.S. continues to battle COVID-19.
Amazon introduced Prime in 2005 and it has been judged as the most successful loyalty program in modern times. The service, which costs $119 a year (or $13 a month and $9 a month for Prime Video only), is a big reason why Amazon has a market value of $1.5 trillion. Walmart in years past a dominant corporation, is worth “only” $337 billion.
The move by Walmart shares, which traded at $126.10 during the session, was their biggest single-day uptick since early April. Amazon stock, which set a record high Monday, was flat Tuesday.
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