Metro-Goldwyn-Mayer Inc. has agreed to create exclusive content for Walmart Inc.'s video-on-demand service VUDU Inc., Reuters reported Oct. 8, citing an official statement.

Financial terms of the deal were reportedly not disclosed.

In a statement to Reuters, Justin Rushing, a spokesman for Walmart, said the new programming will be based on MGM's library of intellectual property, and will premiere exclusively on the Vudu platform. The content is expected to be family friendly, Rushing said.

Walmart has reportedly been considering a subscription streaming video service to compete with companies like Netflix Inc.