Observed Signal · Jul 29, 2026 · M&A · Source: Adweek · Impact: 3/5 · Sentiment: Positive
Walmart vs Amazon: Competing for Streaming TV Ad Budgets
Amazon and Walmart are competing to capture advertiser dollars moving into streaming TV, but they approach the channel differently. Amazon leverages years of premium content investment through Prime Video and sports rights such as the NFL’s Thursday Night Football, while Walmart — after acquiring Vizio in late 2024 and building relationships like Vibe.co — is taking an omnichannel route to use streaming infrastructure as an extension of its retail media offering. Amazon’s advertising business (~$70 billion) is far larger than Walmart’s (~$6.4 billion), yet both are the largest retail media sellers and are projected by Emarketer to account for roughly 89% of incremental retail-media spending this year.
Amazon and Walmart — the two largest retail media sellers — are extending into streaming TV, which could reallocate significant ad budgets and influence CTV inventory, targeting and retail-media strategies across the industry.
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Key Takeaways & Evidence Grounding
- Amazon’s advertising business is approximately $70 billion.
- Walmart’s advertising business is approximately $6.4 billion.
- Walmart acquired Vizio in late 2024 to leverage streaming TV infrastructure.
- Amazon has invested in premium content via Prime Video and holds rights to NFL’s Thursday Night Football.
- Emarketer projects Amazon and Walmart will account for 89% of incremental retail-media spending this year.
Connected Companies & Entities
5 Entities mapped“Amazon has spent years building premium content through Prime Video, and the company also has rights to major sporting events like the NFL’s...”
“Walmart is earlier in this journey, using its late 2024 Vizio acquisition to leverage streaming TV infrastructure....”
“Walmart is earlier in this journey, using its late 2024 Vizio acquisition to leverage streaming TV infrastructure....”
“With Vibe.co and Vizio, Walmart is chasing the omnichannel playbook Amazon pioneered....”
“The two are the largest retail media sellers and will make up 89% of incremental spending this year, according to Emarketer....”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Streaming Is Next Frontier for Walmart and Kroger Ads
Retailers are expanding retail media into streaming and off-site channels, using first-party shopper data to make TV and CTV ads measurable and performance-oriented. Walmart announced an agreement to acquire Vibe.co, a self-serve connected TV ad platform, in a deal reported to be valued at over $1 billion and expected to close by the end of its fiscal year. Walmart has previously acquired Vizio (2024) and is integrating Vibe with Walmart Connect and its commerce data to offer self-serve CTV campaigns. Other major retailers — including Kroger and Albertsons — are integrating retail audience data with off-site video channels such as YouTube and social platforms, signaling a broader industry shift toward combining retail data, measurement, and streaming inventory to drive measurable sales outcomes from video advertising.
Streaming Is Next Frontier for Walmart, Kroger Ads
Retailers are expanding retail media into streaming and off-site video to connect shopper data to measurable sales outcomes. Walmart said it agreed to acquire Vibe.co, a self-serve connected TV ad platform, in a deal valued at over $1 billion and expected to close by the end of its fiscal year; the move builds on Walmart’s 2024 acquisition of Vizio and recent integrations that open Vizio inventory via Yahoo’s DSP through Magnite. Retailers including Kroger and Albertsons have integrated YouTube via Display & Video 360 and Kroger announced self-serve advertising on TikTok. eMarketer forecasts U.S. retail media ad spending on off-site channels like CTV will reach $17.05 billion in 2026. Industry sources say combining deterministic shopper data and closed-loop measurement could turn TV and streaming into lower-funnel, performance-driven channels for brands.
Retail Media Poised to Capture More TV Ad Spend
Adweek reports that retail media is increasingly grabbing TV advertising dollars as retailers expand into living-room screens. Amazon and Walmart are leading the shift: Amazon has been promoting new TV inventory and AI-driven targeting, while Walmart made a joint TV pitch with Vizio at this year’s NewFronts. The article notes retail media ad revenue has already surpassed linear TV and that commerce media teams are emphasizing data and AI to make retail-first audiences and measurement more attractive to TV buyers. The trend signals growing convergence between retail-first first-party data and connected-TV ad buying, with implications for media planning, measurement and where brand budgets flow.
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