Walmart is Reportedly Working on a Netflix Like Streaming Service

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According to a report published on Tuesday, ubiquitous discount retailer Walmart has its sights set on Netflix and Amazon as it mulls over a plan to create a competing video streaming service. "Netflix and Amazon are seen as more popular with people on the East and West Coasts of the USA", stated one of the anonymous sources.

The data discovered that over 39% of United Kingdom households (11.1m) havet at least one on-demand streaming service subscription. It certainly has the cash reserves, having generated $17 billion in cash a year ago.

Sharon White, Ofcom's chief executive, said: "Today's research finds that what we watch and how we watch it are changing rapidly, which has profound implications for United Kingdom television".

"We have seen a decline in revenues for pay TV, a fall in spending on new programs by our public service broadcasters, and the growth of global video streaming giants", she said. Total retail music sales grew by 6% in real terms between 2016 and 2017 driven by a 38% increase in online streaming service subscriptions to £577m.

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Total daily viewing time across all devices stands at 5 hours one minute, of which two-thirds (three hours 33 minutes or 71%) was broadcast content, and 1 hour 28 minutes was non-broadcast content.

Among children and viewers aged 16-34, the decline was steeper, leading to the over-65s watching four times as much broadcast television as children in 2017. These challenges can not be underestimated. Free services like Tubi and Roku Channel have libraries of nonexclusive movies and TV shows, while Sony's Crackle combined shows from Sony's library with exclusive original programming and non-exclusive acquired shows. Of 3,729 Brits polled by Ofcom, 46% said they never use such services.

Emarketer also estimated which countries had the highest levels of user penetration for Netflix, which it tracked as the number of individuals of any age who watched Netflix via app or website at least once per month.