Costco ‘streams’ up a new plan
Costco is considering creating its own streaming service for “average Americans” to compete with Netflix and Amazon.
Mark Greenberg, a TV industry veteran most recently linked to Walmart, held talks with Costco about "building out a service geared toward average Americans," according to a CNBC report. A person familiar with the matter told CNBC that no agreement had been reached.
According to Business Insider, this is the second report that Costco is considering entering the video-streaming space. In October, The Information reported that the retailer had conducted preliminary discussions about adding a video-streaming service as a perk for certain customers.
In July 2018, the Wall Street Journal reported Greenberg was working with Walmart to create a subscription video-streaming service that could rival Netflix and Amazon. In October, a Walmart spokesperson said the company planned to license videos aimed at the company's "core middle- and low-income shoppers in rural and suburban communities, a demographic Walmart believes is underserved by current streaming services."
To read the Business Insider report, click here.