Walmart+ added Peacock Premium as a streaming choice in September 2025. Now you can pick either Peacock or Paramount+ with your membership.
If you're an American Express Platinum cardholder looking to get both services, there's a simple optimization that saves $36/year. (But of course, if you only want one service, just pick whichever you'll actually watch.)
TL;DR
- Walmart+ now offers choice: Peacock Premium ($10.99/month value) OR Paramount+ Essential ($7.99/month value)
- Both services are also eligible for the Amex Platinum $25/month digital entertainment credit
- If you want both: Get Peacock through Walmart+, Paramount+ through entertainment credit. Saves $36/year.
- If you only want one: Just choose the service you'll watch. The optimization only matters if you want both.
- You can switch every 90 days
What Changed (And When)
Walmart+ added Peacock Premium as a streaming option on September 15, 2025. Before this, you could only get Paramount+ Essential.
Now you pick one or the other, and you can switch between them every 90 days if your priorities change. Both are ad-supported plans (not the ad-free versions).
This coincided with Walmart+'s 5th anniversary, part of their push to compete with Amazon Prime Video as a streaming aggregator.
Why This Matters for Amex Platinum Cardholders
The Amex Platinum gives you two separate streaming-related benefits:
Benefit 1: Walmart+ Credit
- Up to $12.95/month back on Walmart+ membership ($155/year)
- Walmart+ includes choice of Peacock Premium ($10.99/month) OR Paramount+ Essential ($7.99/month)
Benefit 2: Digital Entertainment Credit
- Up to $25/month back on eligible subscriptions ($300/year)
- Both Peacock and Paramount+ are eligible
These are two different credits that post separately, and here's the interesting part: both Peacock and Paramount+ qualify for the entertainment credit, which creates an optimization opportunity.
Which one to choose?
This only matters if you want both Peacock AND Paramount+. If you only want one service, skip to the bottom and just pick whichever you'll watch. After all, you only get value from these services if you actually use them.
But if you want both, this is likely the best way to set it up:
Get Peacock Premium through Walmart+ since it's the more expensive option at $10.99/month. You're capturing more value from your Walmart+ credit this way.
Then use your separate $25/month entertainment credit for Paramount+ Essential ($7.99/month). The result: You get both services, plus you still have $17.01/month left over from your entertainment credit for other eligible services like Disney+, Hulu, NYT, WSJ, or YouTube Premium.
If you only want one service, just pick whichever you'll actually watch. Don't choose Peacock just because it costs more if you're never going to use it.
Let's Do the Math
Here are the two scenarios side by side:
Strategy 1: Get Peacock through Walmart+ (Recommended if you want both)
- Walmart+ credit covers: Peacock Premium ($10.99 value)
- Entertainment credit for Paramount+: $7.99
- Remaining entertainment credit: $17.01/month for other services
- Total monthly value captured: $28.99
Strategy 2: Get Paramount+ through Walmart+ (Less optimal if you want both)
- Walmart+ credit covers: Paramount+ Essential ($7.99 value)
- Entertainment credit for Peacock: $10.99
- Remaining entertainment credit: $14.01/month
- Total monthly value captured: $25.99
The difference: $3/month or $36/year. By choosing the cheaper service through Walmart+, you're leaving $3/month on the table that could go toward other eligible services.
What You Should Know
A few important details before you set this up:
You can only have one streaming service through Walmart+ at a time, though you can switch between Peacock and Paramount+ every 90 days.
The digital entertainment credit posts separately from your Walmart+ credit—these are two different benefits on your Platinum card, so they stack.
Important: You must enroll in Walmart+ through the Amex Benefits Dashboard to get the credit. The annual Walmart+ plan doesn't qualify, only the monthly $12.95 plan.
How to Set This Up (if you just got the Amex Platinum)
Here's the step-by-step:
- Log into your Amex account and go to the Benefits Dashboard
- Enroll in the Walmart+ benefit
- Choose monthly billing ($12.95/month). Remember that the annual plan won't get you the credit
- Select Peacock Premium as your streaming choice
- Separately, enroll in the digital entertainment credit through Amex Benefits
- Subscribe to Paramount+ Essential ($7.99/month) on your Platinum card
- Credits post automatically each month after charges
The Walmart+ credit usually posts within 5-10 business days, and the entertainment credit shows up as a separate statement credit on your bill.
What I Do
I use Peacock for Premier League and Sunday Night Football, and Paramount+ for Champions League and CBS shows like South Park. This setup gets me both services, plus I still have $17/month entertainment credit left that I'm using for my other subscriptions.
Bottom Line
If you want both Peacock and Paramount+, get Peacock through Walmart+ and Paramount+ through your entertainment credit. This saves $36/year by maximizing the value you capture from the Walmart+ credit.
If you only want one service, just pick whichever you'll actually watch—the credits work either way, and the optimization only makes sense if you're watching both. Don't pick Peacock just because it costs more if you'll never use it.
You'll still have $17/month entertainment credit left for Disney+, Hulu, NYT, WSJ, YouTube Premium, or other eligible services. Set it up once and the credits post automatically every month.
Sources
- Walmart+ 5th Anniversary Announcement
- American Express Platinum Card Benefits
- Personal testing: Enrolled in Peacock through Walmart+ October 2025, confirmed credits posting
- Peacock Premium current pricing: $10.99/month (increased July 2025)
- Paramount+ Essential current pricing: $7.99/month