*By Michael Teich*
Walmart thinks Netflix's content has failed to entertain Middle Americaーand the retailer's potential streaming service may hold the answer, says Wall Street Journal reporter Sarah Nassauer.
“They’re discussing programming that would target their core customer. Walmart’s customer base mirrors America, which means it skews low income, middle income,” she said on Cheddar Monday. “They see a window of opportunity to go after those types of viewers.”
To help evaluate the project, veteran TV executive Mark Greenberg has been advising Walmart for several months, Nassauer [reported](https://www.wsj.com/articles/walmart-explores-its-own-streaming-service-1532775600). Most recently, Greenberg served as chief executive of pay-television channel Epix and held senior positions at Showtime and HBO.
Nassauer said her sources believe Netflix is neglecting much of the country, and Walmart sees an major opportunity. Two-thirds of Republicans reportedly [prefer](https://morningconsult.com/2018/01/25/walmart-vs-target-a-political-divide-among-shoppers/) Walmart over superstore rival Target. And on average, Walmart shoppers are older, more rural, and lower-income.
[Reports surfaced](https://cheddar.com/videos/walmart-streaming-plans-could-boost-retail) earlier this month that Walmart is planning to launch a video-streaming service as early as the end of summer or this coming fall. According to tech website The Information, the service could be priced at less than $8 a month, below the $11 Netflix charges for a standard subscription.
The reporter who broke the story, Jessica Toonkel, told Cheddar in an interview that the likelihood of Walmart entering the streaming business will depend on the company's willingness to spend billions of [dollars](https://cheddar.com/videos/walmart-could-launch-video-streaming-platform). Nassauer, though, said the company may not want to pay up for original content.
Netflix has said it plans to spend as much as $8 billion on its own this year, and some reports suggest it could go upwards of $12 billion.
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjEzMjE=).
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
