Retail and e-commerce giant Walmart has been reported to be eyeing a launch of its own low cost streaming service in a bid to rival its main competitor Amazon and Netflix and cement its position in the rapidly growing digital space Walmart is adapting for poised growth.

This was first reported by technology news site The Information which states of the service being considerd to be offered at less than $8 per month which makes it cheaper than Netflix’s current $8-14 and Amazon’s $8.99 Prime bundle.

This reported move will come as very costly for Walmart but will stand as a major move be the retail and e-commerce giant to up its competition with the widely disruptive Amazon whose huge e-commerce and competing operations has led to Walmart putting heavy resources into expanding its e-commerce service as demonstrated with the $16 Billion majority acquisition of Indian e-commerce company Flipkart and its purchase of e-commerce startup Jet.com in 2016 for $3.3 Billion which brought Jet.com’s founder and major e-commerce leader Marc Lore to head it’s Walmart.com unit.

Walmart has been very notable for offering cheap prices to consumers with the corresponding stated cost of less than $8 per month for this service to be in-line with its methods. Still Netflix and Amazon Video currently lead the video streaming market with over 56 million and 25 million users in the U.S. respectively.

Walmart currently owns and runs video streaming service Vudu which it acquired in 2010 for a reported $100 million but although counts quite high usage is way lower in statistics compared to Netflix and Amazon’s services.

The Information notes of a possibility of this venture being cancelled but nevertheless. We’ll get to see if Walmart will make a major move into the rapidly growing video streaming market which in the U.S. alone is expected to grow a huge figure of $84 Billion in 4 years time.

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