Walmart is eyeing a fourth-quarter launch for a new subscription-video service through its Vudu digital-entertainment division, according to a report from Variety.

The service would provide Walmart one more tool to bring shoppers and eyeballs to its website as it amps up competition with Amazon. The Seattle giant has its own streaming video network, along with music and e-books.

The Information reported on Tuesday that Walmart was planning to price its own version of a subscription service at $8 per month to compete with Netflix, Amazon and Hulu.

The new service would come after Walmart scrapped similar plans in early 2017, Variety reports.

If the retailer goes through with the subscription streaming service, it would create original content in addition to licensing TV shows and movies, according to Variety. Walmart has already reached out to content companies to discuss licensing deals, sources told Variety.

Vudu, which the retail giant acquired in 2010, currently offers 150,000 titles to buy or rent on demand. Through its Movies on Us streaming service, viewers can choose from 5,000 titles to watch free, ad-supported movies and TV shows.

"We don't comment on rumors and speculation," Walmart spokeswoman Danit Marquardt said in an email to CNBC.

Read more about Walmart's subscription streaming plans in Variety's report.