Personal Finance News
Walmart Adding Peacock Streaming Option for Walmart+ Members
Walmart+ is celebrating its fifth anniversary by adding a new perk to the paid membership.
About the Updated Streaming Benefit:
Soon, Walmart+ members will be able to elect which of two streaming services they’d like to access as a perk of their subscription. Starting September 15th, members can choose between a complimentary Peacock subscription or a Paramount+ one. Note that both options are the ad-supported tiers of the streaming services. According to Walmart, customers will have the option to switch between the two services every 90 days.
This new Peacock option follows the introduction of Paramount+ in 2022. Currently, Walmart+ users also have the option to upgrade their Paramount+ Essential plan to Paramount+ Premium for an additional fee (Walmart also previously offered members a free upgrade to this higher-tier plan as a Walmart+ Week deal). It’s unclear whether a similar Peacock upgrade option will be available.
As of September 1st, a Paramount+ Essential plan paid for outside of Walmart+ comes at a cost of $7.99 per month. Meanwhile, the Peacock Premium option that will soon join Walmart+ is valued at $10.99 a month.
More About Walmart+ and Its Fifth Anniversary:
When it debuted in 2020, Walmart+ was seen as the retailer’s answer to Amazon Prime. With the service, customers can enjoy free same-day delivery on orders over $35 as well as free shipping with no minimum order. Since launching, the membership has introduced more perks to the program, including up to 10¢ per gallon gas savings (at Exxon, Mobil, Walmart, and Murphy stations), 25% discounts on Burger King digital orders, an aforementioned complimentary Paramount+ subscription, and more.
Members can also earn 5% cashback on Walmart purchases with the recently-launched OnePay CashRewards Credit Card (non-Walmart+ members earn 3%). Meanwhile, a monthly Walmart+ membership is currently included with the American Express Platinum Card.
As Walmart notes, despite expanding greatly over the past five years, the membership has yet to raise its pricing. An annual membership to Walmart+ continues to cost $98.
What They’re Saying:
Commenting on the upcoming update, Walmart+ senior SVP Deepak Maini said, “The additional option of Peacock Premium adds even more value and more choice to our membership, without raising the price. By offering the ability to switch between two top-tier video streaming services, we’re empowering our members to customize their entertainment experience and enjoy significant savings. This is just one of the many ways we’re evolving Walmart+ to meet the needs and wants of today’s consumer.”
My Thoughts:
I’ve previously commended Walmart+ for not raising its prices — and it seems that they are well aware that this is a selling point. Hopefully, now that they’ve pointed it out, they’ll keep it that way for the foreseeable future.
As for this new Peacock option, although it’s technically a better value than the Paramount+ pick, I think I’m more inclined to the keep the latter. That’s especially true now that Community is back on Hulu, meaning I no longer have to sit through ads on Peacock to watch it! Actually, I suspect that many will make their decision based on which platform has the strongest NFL lineup this season. I also appreciate that members won’t be locked into their decision for too long and can switch after a few months.
Regardless of which service you choose, kudos to Walmart+ for giving us a choice in the first place.
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