is working with interactive video technology developer Eko on a joint venture to develop content for Walmart’s entertainment side, the company announced Thursday. The venture, called W*E Interactive Ventures, will produce content that allows users to participate in and shape stories as they’re being told, with content ranging from cooking shows to advertising media like interactive toy catalogs. “Our partnership with Eko will help us accelerate efforts to deepen relationships with customers and connect with new audiences in innovative ways and is one part of an overall entertainment ecosystem we’re building,” said Scott McCall, senior vice president for entertainment, toys and seasonal at Walmart U.S. The venture will be headed up by Yoni Bloch, Eko’s chief executive officer, Walmart said. Eko has previously partnered with Sony Pictures Entertainment and MGM Studios, and received prior funding from Sequoia Capital, Intel Capital, Warner Music Group, Samsung and Walmart. As part of the venture, Walmart has agreed to participate in Eko’s next funding round. Shares of Walmart have fallen 3% so far this year, while the Dow Jones Industrial Average
has gained 3.6%.
Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.