Walmart’s Flipkart to launch video streaming service
Walmart’s Flipkart will launch a free video streaming service in India over the next few months as it ramps up its rivalry with Amazon.
The free video streaming service will be available to members of Flipkart’s Plus loyalty members, much like Amazon’s Prime members can stream via its Prime Video service.
Flipkart, India’s biggest retailer which Walmart bought for $16 billion in May last year, says it plans to launch the service by September, in time for the country’s peak shopping season surrounding Diwali.
It will licence programming from various companies including Disney and Indian firm Balaji Telefilms instead of creating its own content initially, but this could come later according to sources.
Unlike Amazon’s Prime service, which charges a monthly fee, customers will only be able to sign up to Flipkart Plus using “super coins”, virtual currency rewarded to customers for purchasing items on its platform.
For every 100 rupees (£1.16) spent on Flipkart customers will receive two super coins, which they can spend on a range of products including flights, food deliveries and service subscriptions.
Flipkart Plus’s video streaming service will cost 300 super coins.
This is the latest move in an increasingly heated battle between major western retailer scrambling to secure share of the burgeoning Indian ecommerce market.
Last week it was revealed that Amazon could buy a 26 per cent stake in Reliance Retail, India’s largest ecommerce platform and key rival to Flipkart.
Last month Ebay was revealed to have invested between $150 million and $200 million in the Indian ecommerce marketplace Paytm Mall which is now valued at $3 billion.