*By Michael Teich*
Walmart's reported plans to launch a streaming video service may prove futile, said The Information reporter Jessica Toonkel. After all, the retailer, she told Cheddar on Wednesday, is late to the game.
"Netflix and Amazon have been doing this for a while," Toonkel said. "This is a really hard business to get into."
Toonkel broke news this week that Walmart may develop a subscription-based video service to compete with Netflix and Amazon Prime Video. The retailer is considering a price point below $8 per month and may also include an ad-supported free service.
What's the likelihood that Walmart will actually enter the streaming business? That depends on its willingness to spend billions of dollars, Toonkel explained. But after generating $17 billion in cash last year, the company potentially has enough ammo to match Netflix's aggressive spending budget, pegged at $8 billion for 2018.
But it's not just a matter of cash flow, Toonkel said. "They have a lot of money, clearly, but they also have investors that might not be as patient as investors in Netflix."
Walmart's last attempt to enter video content faltered ー in 2010 the retailer acquired Vudu, a video-on-demand service that currently offers a combined 100,000 movie titles and television series. But analytics firm comScore reported that users spent only 18,000 hours on the platform in May, just 2 percent of the total hours spent on Netflix and 6 percent of hours spent watching Amazon in the same period.
For the full segment, [click here.](https://cheddar.com/videos/walmart-could-launch-video-streaming-platform)
Tom and Darr Aley, Co-Founders of Aidentified, join Cheddar Innovates to discuss how the platform is becoming the next social network for companies to make connections in an increasingly digital world.
Cloud-based marketing technology firm, Zeta Global reported strong Q4 earnings after the bell on Wednesday, with revenue up 18 percent. David Steinberg, CEO and co-founder, joined Cheddar's Opening Bell to discuss the company's big results, how marketers are turning to its first-party tech solutions and its plans for future growth. "We raised our guidance pretty dramatically for this year," he said. "We publicly announced our Zeta 2025 plan, which we have been focused on internally since 2020 but to get to over a billion dollars in revenue per year and a 20 percent operating margin by 2025."
Cann, a cannabis-infused beverage company, announced today a $27 million Series A funding round from existing investors like Imaginary Ventures and a roster of new celebrity investors including Nina Dobrev, Adam Devine, Zoey Deutch, Jordan Cooper, Sara Foster, and Rosario Dawson. Cann is also announcing its first international expansion with the brand's launch in Canada. Jake Bullock, co-founder and CEO of Cann, joins Cheddar News' Closing Bell to discuss.
Soul Machines is a company that creates autonomously animated digital people in the metaverse and the digital worlds of today. The startup based in New Zealand recently raised the equivalent of $70 million USD, in a funding round led by Softbank's Vision Fund 2. Soul Machines says it helps to bring digital workforces to life for some of the biggest brands in the world, and creates digital twins of celebrities to reimagine the future of digital entertainment. Greg Cross, co-founder and CBO of Soul Machines, joins Cheddar News' Closing Bell to discuss.
By 2050, nuclear power share of total energy consumption will dip to just 3.7% down from the already measly 4.5% it is today, according to the U. S. Energy Information Administration. However, a group of world powers including the U.S. and Japan is looking to reverse the trend. John Kotek, SVP of Policy Development and Public Affairs at the Nuclear Energy Institute, joined Cheddar News to discuss.
