Walmart will offer Paramount Global’s streaming service as part of its Walmart+ membership package after reaching an agreement with the movie giant.

The companies have reached a 12-month exclusivity agreement and a two-year pact to provide Walmart+ subscribers with Paramount’s ad-supported streaming service.

The partnership starts in September and members can watch movies and shows like “Star Trek,” “Paw Patrol,” “The Godfather” and “SpongeBob Squarepants.”

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The Bentonville firm started the service almost two years ago to boost sales and better customer involvement.

Walmart has been looking for a subscription video-streaming deal to gain more Walmart+ users to challenge Amazon’s Prime.

The service costs $98 a year or $12.95 per month with several other perks.

It includes free shipping on online purchases, free grocery delivery for minimum orders of  $35, and prescription and gas discounts.

Customers will also have access to the “essential tier” of Paramount+, which costs $4.99 per month and has ads.

Paramount also offers a premium product without commercials for $9.99 per month.

Chris Cracchiolo, general manager of Walmart+ said: “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.”

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Since its inception in September 2020, Walmart has reported strong membership growth every month.

However, after launching the program, the retail giant has refused to reveal the number of subscribers.

Paramount+ is one of the many services competing for dominance in the streaming sector. 

The New York-based mass media announced earlier this month that Paramount+ has 43.3 million users worldwide.

The company strives to gain 100 million subscribers by 2024.

This deal will offer Paramount+ a new distribution medium for adding subscribers as well as a branding boost.

Source: CNBC

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