US-based media conglomerate NBCUniversal is bringing in another streaming service under its wing. The company just purchased Walmart’s Vudu streaming service for an amount that still isn’t disclosed. Fandango will now own the digital movie retailer and streaming service. The move comes right after a relatively soft launch announcement of NBCUniversal’s Peacock streaming service. Also Read - Joker streaming now on Amazon Prime Video
As per a report by The Verge, more information on the details will be revealed in the coming months. Vudu is currently accessible on over 100 million living room devices as per Walmart. Further, its mobile app has over 14 million downloads. Also Read - Netflix is now worth more than Disney due to pandemic binge-watching
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The report stated that the main goal of the new deal was to expand the company’s presence in the transactional space. This includes movies that people can buy or rent, right from the moment they are available, without the need for a subscription. Fandango also currently operates its own digital marketspace. As of December 2019, the service had seen over 60 million monthly visitors and contained over 100,000 movies and TV shows. Also Read - Lockdown 2.0: Amazon, Flipkart, E-commerce services allowed to operate in non-hotspot areas
Further, Fandango is also competing with other streaming services including Amazon Prime Video and iTunes by Apple. This in contrary to services like that are based on subscriptions and are ad-supported like Netflix or Tubi, which Fandango isn’t really competing with. The company wants to grow its streaming business in scale to reflect its current size as a ticket retailer. The deal with Vudu could be the last piece of the puzzle for the brand.
Vudu has a large, built-in audience and a dedicated network of home video enthusiasts. The service scores high in certain areas like the incorporation of higher bit-rates than other competitors and for its overall dedication to high streaming quality. Walmart acquired the service back in 2010 and has been eyeing a good deal. For Fandango, there could be possibly no better time for the deal with people staying in their homes for quite some time with the ongoing pandemic.
- 20Apr 2020
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