Target dumps streaming video service

Target (NYSE:TGT) announced it will officially shut down Target Ticket, its digital entertainment service, on March 7. Ticket allowed customers to rent and buy movies and TV shows on-demand.

However, purchased videos will still be available to be transferred and watched under a deal with CinemaNow, reported The New York Post. The company announced on its website that it will "focus efforts on other entertainment offerings."

The digital service was launched in the fall of 2013 as part of a campaign to better compete with companies such as Netflix and Hulu Plus. Of course, one of its largest competitors, Amazon, offers instant video to Prime members. However, Target Ticket never offered a streaming subscription plan.

"Thank you for choosing Target Ticket for your digital entertainment. We hope that you've enjoyed your movies and TV shows with us. Target has made the decision to end the services offered on Target Ticket and will be focusing efforts on other entertainment offerings. Effective March 7th, 2015, Target Ticket will no longer be accessible on your device applications, gaming consoles, tablets, smartphones or on the Web," said a post on the Target Ticket home page.

Target has made some strategic changes in the initial months of 2015, including announcing that it would shutter all 133 of its Canadian stores. The retailer also appointed Mike McNamara as executive VP and CIO to advance the retailer's digital transformation and its position as an omnichannel retailer. In addition, the company announced it would open nine small-format stores in the coming year, pushing the growth of its Express stores, which are about 20,000 sq. ft. in size and one-sixth the size of a big box, as the retailer looks to grow its footprint in urban markets.

For more:
-See this New York Post article
-See this Web Pro News article
-See this Target Ticket page

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