Walmart is shelving its streaming service ambitions and ditching plans to launch a competitor to Netflix and Hulu, anonymous sources told CNBC. The retailer had considered launching a service aimed at “Middle America,” but it decided against it due to the large investment needed to make original content.
The streaming service’s focus on middle America followed the initial success of the TV show Roseanne. But Walmart found investing in content to be a risky play, according to the report. The retailer would have been entering a heavily saturated market where big names like Amazon Prime, Hulu, and Netflix could outspend it and make content more readily.
Instead of chasing a conservative streaming service, CNBC reports that Walmart will...
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