Vudu Agreement

Walmart, which acquired Vudu in 2010 for more than $US 100 million, said Monday it had signed the deal to sell the service to Fandango. The terms of the deal, which will be reached in the coming months, have not been disclosed. The deal comes less than a week after NBCUniversal`s heavily ad-supported Peacock streaming service began launching for Cable and Internet Comcast customers. As part of the deal, Vudu will continue to operate Walmart`s digital TV and movie store on Los Angeles-based Fandango has signed an agreement to buy Vudu, Walmart`s video-on-demand service, a spokeswoman confirmed Monday. On January 8, 2010, Vudu announced at the Consumer Electronics Show that it was phasing out its in-house hardware business to focus on integrating its rich Internet application platform”[9] “Vudu Apps” (which included Vudu as well as other video and Internet streaming services) directly into Internet-connected TVs and Blu-ray players, with initial hardware partners such as LG, Magnavox, Mitsubishi, Samsung, Sanyo, Sharp, Toshiba and Vizio. [10] [11] To date, the Vudu app has been installed more than 14.5 million times on mobile devices. On February 24, 2009, Vudu became the first on-demand service to offer high-resolution movies for download. Before Vudu allowed users to buy high-resolution movies, studios only allowed their movies to be purchased in standard definition format. [6] LG was the first to integrate Vudu into its HDTVs, with access from August 2009 via the TV`s NetCast app. [7] [8] Fandango`s main activity is the sale of cinema tickets, which has stopped during the COVID-19 pandemic, as cinemas remain closed throughout the country. Fandango has not yet been able to comment on the role of Vudus Adtech or the original content in the deal, in addition that anything live on the platform today would be included in the acquisition. Vudu was founded by Tony Miranz and Alain Rossmann (the creator of WAP).

The Vudu Box had been under development in secret since 2004, but in April 2007, the New York Times revealed that Vudu had signed contracts with several film studios and independent distributors to gain access to nearly 5,000 films. [2] NBCUniversal is also introducing its new streaming service Peacock, which wants to stand out from direct-to-consumer outlets in an increasingly crowded landscape. The media giant will make the inexpensive peacock service generally available on July 15. Last week, it offered an overview to customers of parent company Comcast. With Fandango`s upcoming purchase of Vudu, it`s unclear whether Vudu`s original programming strategy – which focuses on family-friendly rates – will continue. “We will continue to invest in areas where we have the greatest strength and are best positioned to serve our customers today and in the future,” a Walmart spokesperson said in a statement, referring to the sale. “Pickup and delivery are great examples of how we`ve invested to bring together digital and physical capabilities to better serve our customers by offering more choice and convenience. We are focused on serving customers through this type of omni-retail experience, and we are actively prioritizing our investments to maximize our strengths and serve them in new ways,” they added.