Retail giant Walmart and Comcast Corp. are in tentative talks to discuss the development and distribution of Smart TVs with Comcast software with the retailer receiving a share of the regular revenue. According to familiar sources Comcast is eyeing streaming apps as well and not only its regular TV channels as a source of revenue as its traditional source of revenue, its cable tv subscribers, are decreasing.
As per the terms discussed, Walmart would promote smart TVs running Comcast software and earn a share of the recurring revenue. A third party would most probably manufacture these tv sets and they could be sold under the Walmart brand.
“We’re constantly having conversations with current and new suppliers about innovation and new products we can bring to our customers, and we don’t share details of those decisions,” said Ryan Peterson, vice president of electronics, Walmart U.S.
A Comcast spokeswoman declined to comment. However, Brian Roberts, Comcast CEO had mentioned in a conference earlier this year, in September that Comcast had its sights set on developing smart TVs “on a global basis. He had not discussed the timing or any specific deals with major retailers or wholesalers. This year Comcast has lost almost 1.2 million cable tv subscribers. Meanwhile, its broadband access business has increase and has a substantial amount of customers, more than 1.4 million, despite the pandemic.
This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.