Walmart Inc. (WMT.US) launches Peacock streaming service benefit to celebrate five years of Walmart+ service.

Walmart Inc. (WMT.US) continues to introduce new benefits for Walmart+ members, with the latest initiative being the addition of the Peacock streaming platform service for members. As a streaming platform under NBCUniversal (Comcast Corporation Class A (CMCSA.US)), Peacock will join the Walmart+ service system alongside long-time partner Paramount+ under ViacomCBS Inc. (PARA.US), with no additional cost to members. This new streaming benefit will officially take effect this Monday. Deepak Maini, Senior Vice President of Walmart+, said, "By adding the Peacock Premium service without increasing the membership fee, we are bringing greater value and richer choices to our members. By allowing members to freely switch between two top-tier streaming services, we help them create a personalized entertainment experience while enjoying real savings. This is just one of many initiatives we are taking to continuously optimize Walmart+ to meet the needs of today's consumers." The upgrade in benefits comes as this retail giant celebrates the fifth anniversary of Walmart+. Since its launch in 2020, Walmart+ has rapidly expanded from its initial three core benefits to now offering twelve benefits and still growing, all for an annual fee of just $98. Benefits include free same-day delivery of fresh groceries and prescription drugs, free delivery with no minimum purchase threshold, greater discounts on fuel, and 5% unlimited cash back through the newly launched OnePay CashRewards credit card. According to a recent evaluation report on the Walmart+ membership program by Morgan Stanley, the service's membership growth momentum remains strong. Based on the institution's survey data, the current membership is around 26.6 million, equivalent to a household penetration rate of about 20% (adjusted to approximately 13%). Analyst Simeon Gutman states that expanding the Walmart+ membership base is a key element of the company's overall e-commerce flywheel strategy, as it allows for profitable expansion and densification of delivery coverage around supercenters, increasing operational density. The Walmart+ membership program is seen as a crucial catalyst for Walmart Inc. to cultivate customer loyalty and repeat purchases leveraging its leading position in the grocery retail sector, while also attracting wallet share from middle to high-income households. Additionally, the program is believed to be able to create a high-profit recurring revenue stream.