Apple plans to launch AI-powered search tool next year - Bloomberg
BENTONVILLE, Ark. - Retail giant Walmart (WMT), with its impressive $778 billion market capitalization and position as a prominent player in Consumer Staples, is expanding its Walmart+ entertainment offerings by adding Peacock as a new streaming partner alongside existing partner Paramount+, effective September 15. According to InvestingPro data, the company’s strong financial health and consistent growth make it well-positioned for this expansion. Members will be able to choose between the ad-supported plans of either service at no additional cost to their $98 annual membership fee.
The new "Video Streaming Choice" benefit will allow subscribers to select either Peacock Premium or Paramount+ Essential, with the option to switch between services every 90 days.
"The additional option of Peacock Premium adds even more value and more choice to our membership, without raising the price," said Deepak Maini, SVP of Walmart+.
Paramount+ Essential offers sports content, movie franchises, and original series including the upcoming "NCIS: Tony & Ziva." Peacock Premium provides access to live sports, films, reality TV, next-day access to NBC and Bravo programming, and Spanish language content through its Telemundo Hub.
Matt Schnaars, President of Platform Distribution & Partnerships at NBCUniversal, noted that the partnership "gives Walmart+ members seamless access to the wide variety of Peacock’s entertainment offering."
The streaming enhancement comes as Walmart+ celebrates its growth since launching in 2020. The service has expanded from three initial benefits to twelve, including free same-day delivery on grocery and prescriptions, free shipping with no minimum order, gas discounts, and 5% unlimited cashback through the recently announced OnePay CashRewards Credit Card.
According to the company’s press release statement, Walmart+ will maintain its current pricing despite the added benefits.
In other recent news, Walmart has reported significant developments in its operations and partnerships. The company unveiled a suite of AI-powered tools and seller incentives during its "Let’s Grow!" Marketplace Seller Summit, aimed at assisting third-party sellers in expanding their reach and efficiency. Walmart is also enhancing its fulfillment capabilities with the introduction of Next-Day Delivery in major metropolitan areas. In a strategic move, Walmart has designated Broadcom as a strategic vendor to implement a modern private cloud and edge environment using Broadcom’s VMware Cloud Foundation. Additionally, Walmart is expanding its automation partnership with Ranpak Holdings, with plans to install Ranpak AutoFill™ systems across several new fulfillment centers. Analyst firms KeyBanc and TD Cowen have reiterated their positive ratings on Walmart stock, with KeyBanc maintaining an Overweight rating and TD Cowen a Buy rating, both citing strong financial performance and consistent sales trends. These developments reflect Walmart’s ongoing efforts to innovate and strengthen its market position.
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