Walmart reportedly has shelved plans to launch a branded over-the-top video streaming service.
CNBC, citing sources familiar with the situation, said the world’s largest retailer dropped the idea after negotiations with former Epix CEO Mark Greenberg to spearhead an OTT video platform fell through.
Greenberg has also approached Costco regarding launching a branded OTT video service.
Specifically, Walmart balked at the prospect of spending billions on content in an industry it has no direct experience in. Instead, the retail behemoth will redouble efforts on Vudu.com, the transactional VOD unit it acquired in 2010.
Vudu, which sells and rents digital movies, also enables registered users to upload DVD and Blu-ray Disc titles for access to digital files stored in the cloud. The platform recently upgraded its ad-supported VOD offerings of catalog movies and TV shows.
“Vudu has developed a strong platform, and we aim to continue to bring our customers more content, on more devices, at the best possible price,” Walmart spokeswoman Tara Raddohl-House said in a statement.