Wal-Mart preparing to take on Netflix
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One of the most remarkable things about Netflix’s accelerated growth over the past few years has been its lack of competition.
Despite Netflix’s 20 million-plus subscribers and skyrocketing stock price, no other companies offer a significant online video subscription service.
That’s about to change and the world’s largest retailer could be in the lead. Wal-Mart is one of several companies in talks to launch a Netflix-like Internet service, or expand existing ones, along with well-known names like Best Buy, Amazon.com, Dish Network and Hulu, according to people familiar with the matter.
For much more on the potential competition Netflix could soon face, read the story in Saturday’s Los Angeles Times.