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CNBC reports that Walmart has decided not to launch a new advertiser-supported video streaming service that would compete with the plethora of other streaming services out there (Amazon and Netflix, for example), not to mention the ones being planned by other companies (NBC, Disney and Apple, for example).

The reason: “Walmart couldn’t get comfortable with making a large investment in content, a business where it has no real experience and where competitors such as Netflix can spend more than $10 billion a year on new TV shows and movies.”

Instead, the story says, “Walmart will focus on bolstering Vudu, the video service it acquired in 2010. Vudu offers a variety of movies and shows for free with ads or for purchase that can be rented or owned. Vudu is No. 3 in pay-per-view digital video, trailing Apple and Amazon, Variety reported in October.”
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