Following rumours earlier this week, US retail giant Walmart has now confirmed it intends to launch an SVoD service later this year.

According to a report by Variety, Walmart is planning to launch its straming service in the final quarter of the year via its TVoD platform Vudu, which it acquired in 2010 for $100 million.

The service will offer a library of licensed TV shows, films, and original content at a price point lower than its key rivals, namely Netflix and Amazon. A free, ad-supported model is also apparently being explored.

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