On November 1, according to foreign media reports, Wal Mart is considering selling its Vudu video streaming service. It is not clear how much the company wants to sell the service or whether it has recruited banks to help sell it.
Wal Mart bought Vudu in 2010 for $100 million.
It is understood that Wal Mart is now seeking to sell Vudu for several reasons. First of all, the video streaming market is becoming more and more crowded, Apple TV plus and Disney + will be launched next month, and the peacock service of HBO Max and nbcuniversal will be launched next year. Vudu's digital leasing and purchase business model has also fallen out of favor in recent years, because the all inclusive subscription streaming media service is now the norm.
Vudu has always been considered one of the better places to watch movies online, as the service emphasizes video quality and HDR presentation. It is also the core player of the ultraviolet format, with a disc to digital feature that allows users to add their movie collections to the cloud. Vudu now also supports the ability to watch movies on the go.
Wal Mart seems unequivocal about investing in Vudu. Earlier this year, it announced the creation of a series of original content, including a remake of the 1983 film "Mr. mom," which premiered last month. It is also reportedly considering offering 'shoppable' TV shows and films. It is reported that it even considered launching a subscription streaming service last year. However, sources now say the investment needed to turn Vudu around no longer makes sense to Wal Mart.
"Over the past nine years, we have built Vudu into an incredibly strong and growing business with an installed base of over 100 million devices across the United States. "We are constantly talking to new and existing partners to explore opportunities for continued growth," the company said in a statement. However, we have never disclosed the details of these discussions. '