Wal-Mart And Chill? Retailer Debuts New Streaming Service

With Netflix, Inc. NFLX coming off a steller quarter and the stock rising over 20 percent, the streaming business is looking better than ever.

The rapidly competitive landscape is getting a new adversary and it's a giant. Wal-Mart Stores, Inc. WMT announced Wednesday it would be adding an on-demand service called Vudu Movies On Us, to its subscription-free premium video streaming service, Vudu.

The new feature offers customers thousands of movie and TV titles to watch for free, with no fees or subscriptions, and limited commercials.

"Millions of customers already buy and rent content on Vudu on a monthly basis. This new service provides value for customers who want to watch movies and TV for free, when and how they wish to watch, without sacrificing quality," said Jeremy Verba, Vice President of Vudu.

Shares of Wal-Mart are up more than 12 percent in 2016.