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| Wal-Mart makes streaming video move |
| Wednesday, 27 July 2011 00:00 |
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US retail giant Wal-Mart has taken steps to embrace streaming video content on its company website, it has been revealed.
The LA Times reports the business is looking to grab a share of the lucrative on-demand streaming video market and has therefore added 20,000 movie titles to its site following the acquisition of Silicon Valley start-up Vudu for $100 million (£60.92 million) earlier this year. "We know customers are starting to shift their behavior, in terms of how they consume their media," Walmart.com general manager Steve Nave said. "As as customers make that change, we don't want to lose that customer as they shift to digital." In total, Wal-Mart's site attracts approximately 40 million unique hits each month, meaning this new offering could propel the retailer to the top of the streaming video market if all goes to plan. The company presently operates in 15 countries around the world and was founded in the US in 1962. It recorded global sales of $405 billion in 2010 and employs approximately 2.1 million people worldwide. Posted by Geoff Phillips  |