TMCnet News
Walmart becomes third-largest online film providerAug 22, 2011 (CORPORATE IT UPDATE via COMTEX) -- 22 August 2011 - Walmart (NYSE:WMT) has landed among the biggest online film providers in the USA, snatching the number three spot from Sony (TYO:6758) during the first half of the year, the Financial Times reported citing data by IHS Screen Digest. Part of Walmart's success is down to the problems Sony experienced earlier in the year, when its PlayStation network fell victim to hackers. However, the retail giant has also turned into an aggressive digital player in a bid to counter the steady decline in DVD sales. In 2010, Walmart acquired digital film store Vudu and has been building its market share through price discounts. IHS Screen Digest puts Vudu's first-half market share at 5.3%, a substantial improvement on its 1% in the comparable 2010 period. Microsoft, which operates the Zune Video Marketplace, came second with 16.2% against 18.5% last year. Apple continues to dominate the online film market by a very wide margin. Its iTunes store lifted its share in the first half to 65.8% from 64.9%. Comments on this story may be sent to [email protected] |