Fandango is acquiring Vudu. The Vudu streaming service currently offers movie rentals and purchases, as well as a library of select free content. They were a subsidiary of Walmart before the purchase. Fandango is one of the most popular platforms used to buy movie tickets in advance and also has theaters closing down as a result of the coronavirus, the company is looking for other avenues to make money.
In an effort to diversify, Fandango is now set to buy Walmart’s Vudu streaming service. No price was mentioned in the news which comes via TechCrunch. As of now, Vudu provides video content to more than 100 million households. Despite the purchase, Walmart will still have some connections to the streaming platform. Vudu will still control Walmart’s digital video store, and customers will still be able to use the service with their Walmart and wallet.
This move from Fandango makes sense given the current circumstances. Streaming platforms have been growing over the past few years and with all the complications involved with the coronavirus, people are more than ever looking for content to watch. At home viewing is only growing in importance and Fandango’s purchase of Vudu proves the company is trying to capitalize on that. Fans will have to wait and see if it was the right move in the coming months when the deal goes through.
Source: TechCrunch
