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Google Inc. recently launched the Google Cast Software Development Kit (SDK) for its Chromecast streaming dongle.

The SDK will allow developers to make apps for Chromecast and also enable integration of their existing apps with Chromecast. This greatly broadens the scope of Chromecast to stream video from new sources, depending on the interests of the user. Therefore, the $35 device is soon going to be able to do a whole lot more.

It was previously capable of streaming content from either the Chrome browser or from Netflix, Inc. (NFLX - Analyst Report), YouTube, HBO Go, Hulu Plus, Pandora Media, Inc. (P - Snapshot Report), and Google Play.

But now, with the availability of a broad variety of apps, Chromecast will become far more effective in the living room.

The launch of the SDK is good news for not only developers but also for the users of Chromecast. They can now access more movies, music and TV shows through the cast buttons in their desired apps and websites.

Google recently announced that Nielsen Holdings N.V. (NLSN - Snapshot Report) will be analyzing the effectiveness of ads on YouTube. Nielsen rating for video ads is significant because it is one of the few companies that also rate the effectiveness of TV ads, so a comparative analysis will be possible.

Google has now added another platform that is a TV competitor, so Nielsen may rate this platform as well. If it takes off, Google will be in a good position to divert TV ads and monetize this platform very quickly. Advertisers will also be able to run cross-platform ads, which will attract them to the platform and ultimately benefit Google.

Google currently holds a Zacks Rank #3 (Hold).

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