With the move, Walmart hopes to draw more members to its paid subscription service. Walmart+ positions itself as giving more value to customers for less.
Walmart+
Walmart+ features same-day delivery of over 160,000 products as well as discounts on fuel in 14,000 partner gas stations nationwide. A six-month Spotify subscription is also bundled with the membership. In a statement, Chris Cracchiolo, senior vice president, and general manager of Walmart+ sums up the new partnership:
Paramount+
Paramount Global is the parent company of Paramount Pictures and the CBS Entertainment group. The on-demand streaming service Paramount+ was launched in 2014 as CBS All Access and was later renamed after the merger and rebranding of the parent company. Paramount+ has a catalog of thousands of film and TV titles from Paramount Pictures and CBS. Subscribers will also have access to cable channels MTV, Nickelodeon, Comedy Central, and VH1 among others. The Paramount+ Essential plan currently costs $4.99 per month and does not include access to local live CBS stations which are available through the Premium plan. The plan does include access to CBS, CBS Sports as well as live sports broadcasts. Jeff Schultz, chief strategy officer, and chief business development officer of Paramount Streaming had this to say about the partnership: Walmart has not disclosed the number of Walmart+ subscribers, but according to a recent survey done by Morgan Stanley, the service has 16 million members. Paramount+, on the other hand, has 43.3 million subscribers as per its Q2 earnings report. The Walmart+ subscription costs $12.95 per month or $98 annually. The free Paramount+ Essential plan gives members an additional savings of $59 annually.
