*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=).

Share:
More In Business
Lyft to Pick Up New CEO Amid Deepening Post-Pandemic Losses
Lyft co-founders Logan Green and John Zimmer are relinquishing their leadership roles to make way for a former Amazon executive as the ride-hailing service struggles to recover from the pandemic while long-time rival Uber has been regaining its momentum.
Fed Official: SVB Caused Its Own Collapse
The Fed's vice chair for supervision will testify Tuesday that the central bank will look into the possibility that a 2018 law contributed to SVB's collapse by allowing them to keep less cash on hand.
The Day Ahead: Economic Data, Senate Banking Hearing and Earnings
Cheddar News breaks down what to look for on The Day Ahead. Economic data, including Jan. home prices and consumer confidence, are slated to be released while the Senate Banking Committee has a hearing scheduled in the wake of the collapse of Silicon Valley Bank. Earnings from Walgreens, Lululemon and Micron are also expected.
Disney Rolls Out First Round of Layoffs
Disney's first round of layoffs starts this week and will eventually to the loss of about 7,000 jobs after three rounds, according to a memo sent by CEO Bob Iger.
Biden's Pick to Lead FAA Withdraws Amid Shaky Senate Support
President Joe Biden’s choice to run the Federal Aviation Administration has withdrawn his nomination, a setback for the administration that comes after Denver International Airport CEO Phillip Washington appeared to lack enough support in the closely divided Senate.
Load More