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Alphabet's Google Updates Audiobook, Ups Game Against Amazon
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Alphabet Inc. (GOOGL - Free Report) is leaving no stone unturned to remain on a growth trajectory. The company’s division Google in this regard recently announced that Play Audiobooks is set to get updated.
The latest move will add smart resume, bookmarks, speed controls, family library to audiobooks, which will be compatible with Google Assistant routines.
Smart resume, probably the most interesting feature, takes the user back to the beginning of a sentence in case the listener had lost track. Bookmark will allow listeners to mark their favorite part of the playback so that they can go through that particular part anytime they want. Speed controls will speed up or slow down the playback per the listener’s wish.
Google Assistant routines will allow listeners to automate the playback according to their routine. Also, family library, which enables the users to share the audiobook with five members for free, has been extended to 13 new countries — Belgium, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Switzerland, Chile, Mexico, Japan and South Africa.
Last year, the audiobook segment reportedly gained momentum in the digital publishing industry with the United States being the significant market. The segment generated $2.5 billion revenues, reflecting an 18% year-over-year growth. Additionally, there was a 33.9% increase in the number of audiobooks published according to Audiobook Publishers Association.
Coming to the share price performance, the shares of Alphabet have returned 18.8% over a year, outperforming the industry’s rally of 13.6%.
Features to Boost Competitive Position
The latest features will improve the customer base of the audiobooks since in today’s fast paced world readers prefer to listen to a book instead of reading it. This is likely to generate higher revenues on the Google Play platform.
Moreover, the added features are expected to improve Google’s competitive position against Amazon’s (AMZN - Free Report) Audible.
Notably, Google Play Audiobooks require no subscription and provide a preview of the book before buying it making it consumer friendly as compared with audiobooks on Audible, which require a trial subscription before buying it.
Robust Product Portfolio — Key Catalyst for Google
Google’s robust product portfolio is a key catalyst. Along with the latest audiobook, the company recently added GIFs to its Google image library by acquiring Tenor, a GIF search platform. This will cater to the several GIF related search requests on its platform.
Last year, the company introduced Google Pay, a digital wallet and recently redesigned the Google Wallet P2P for sending and requesting money and developed it into Google Pay Send. Further, in January 2018, Google also announced updates on Assistant, its smart home product.
Long-term earnings growth rate for Match Group and Akamai Technologies is pegged at 12.5% and 12.8%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Alphabet's Google Updates Audiobook, Ups Game Against Amazon
Alphabet Inc. (GOOGL - Free Report) is leaving no stone unturned to remain on a growth trajectory. The company’s division Google in this regard recently announced that Play Audiobooks is set to get updated.
The latest move will add smart resume, bookmarks, speed controls, family library to audiobooks, which will be compatible with Google Assistant routines.
Smart resume, probably the most interesting feature, takes the user back to the beginning of a sentence in case the listener had lost track. Bookmark will allow listeners to mark their favorite part of the playback so that they can go through that particular part anytime they want. Speed controls will speed up or slow down the playback per the listener’s wish.
Google Assistant routines will allow listeners to automate the playback according to their routine. Also, family library, which enables the users to share the audiobook with five members for free, has been extended to 13 new countries — Belgium, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Switzerland, Chile, Mexico, Japan and South Africa.
Last year, the audiobook segment reportedly gained momentum in the digital publishing industry with the United States being the significant market. The segment generated $2.5 billion revenues, reflecting an 18% year-over-year growth. Additionally, there was a 33.9% increase in the number of audiobooks published according to Audiobook Publishers Association.
Coming to the share price performance, the shares of Alphabet have returned 18.8% over a year, outperforming the industry’s rally of 13.6%.
Features to Boost Competitive Position
The latest features will improve the customer base of the audiobooks since in today’s fast paced world readers prefer to listen to a book instead of reading it. This is likely to generate higher revenues on the Google Play platform.
Moreover, the added features are expected to improve Google’s competitive position against Amazon’s (AMZN - Free Report) Audible.
Notably, Google Play Audiobooks require no subscription and provide a preview of the book before buying it making it consumer friendly as compared with audiobooks on Audible, which require a trial subscription before buying it.
Robust Product Portfolio — Key Catalyst for Google
Google’s robust product portfolio is a key catalyst. Along with the latest audiobook, the company recently added GIFs to its Google image library by acquiring Tenor, a GIF search platform. This will cater to the several GIF related search requests on its platform.
Last year, the company introduced Google Pay, a digital wallet and recently redesigned the Google Wallet P2P for sending and requesting money and developed it into Google Pay Send. Further, in January 2018, Google also announced updates on Assistant, its smart home product.
Alphabet Inc. Revenue (TTM)
Alphabet Inc. Revenue (TTM) | Alphabet Inc. Quote
Zacks Rank & Stocks to Consider
Currently, Alphabet carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider Match Group (MTCH - Free Report) and Akamai Technologies (AKAM - Free Report) . While Match Group sports a Zacks Rank #1 (Strong Buy), Akamai Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Match Group and Akamai Technologies is pegged at 12.5% and 12.8%, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>