Walmart CEO Aims to Go Bigger in Digital Entertainment Services
As people’s entertainment habits change, Walmart said it is looking for ways to improve its digital media offering.
The retail giant remains a dominant player when it comes to selling DVDs to consumers. But that business is getting smaller, as alternatives, including streaming service like Netflix or Amazon Prime, grow in popularity.
“We sell a lot of movies and music,” said Walmart CEO Doug McMillon at the Code Conference. “But we have room to improve relative to our digital offering.”
McMillon said he doesn’t see Walmart following the path of rival Amazon, when it comes to financing original content or making its own tablets. But he said the retail giant sees an opportunity in providing software that lives on multiple devices and connects consumers to the store.
Walmart acquired online movie service Vudu in 2010, but recent estimates from comScore show it attracts fewer than 2 million users a month — far fewer than other digital competitors, and hardly retail giant numbers.
“We aspire to sell more,” McMillon said.