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Facebook (FB) to Launch Audio Products to Counter Clubhouse
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Facebook is gearing up to enter the audio-focused social media market. The social-networking giant is set launch new audio creation tools, Soundbites and Live Audio rooms to counter the growing influence of Clubhouse.
Facebook has been investing in audio technologies like speech-to-text and voice morphing to power its new audio-creation tools. These will be available directly on the Facebook app.
The company expects to offer top-notch audio quality by leveraging AI that will help in lowering noise. Its more than 3 billion users will be able to access music from Facebook’s Sound Collection in the background of their stories. Facebook’s offering will also include tools to mix audio tracks, a collection of sound and voice effects, as well as filters.
The new audio-creation tools will help users create short-form audio clips called Soundbites. Facebook is collaborating with creators to bring new audio content to its users. The company also expects to start testing this product over the next few months.
Moreover, Facebook is set to test Live Audio Rooms in Groups and expects to launch the product on the Facebook app as well as Messenger by summer. The company is partnering with public figures to bring new audio content to its users.
Notably, Facebook is not the only company challenging Clubhouse’s dominance. Tech-giants like Twitter , Microsoft (MSFT - Free Report) and Slack are pushing aggressively to offer Clubhouse-like features.
For instance, Twitter, through its Spaces product (currently in testing) and Voice Tweets, has been venturing into audio streaming. Moreover, Microsoft’s LinkedIn is testing a professional audio-streaming functionality for its users. Slack also recently announced plans to add audio features, including Clubhouse-like audio chat-rooms.
Nevertheless, Facebook, thanks to its huge user base, is expected to enjoy competitive edge in the long haul. This Zacks Rank #3 (Hold) company’s new audio-focused features are expected to keep users engaged, thereby driving advertising revenues. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Facebook also plans to offer monetization opportunities for audio content creators, including “charge for access to a Live Audio Room through a single purchase or a subscription.” For Soundbites, Facebook plans to launch an Audio Creator Fund to support emerging audio creators.
Additionally, Facebook is taking initiatives to strengthen its footprint in the podcast market. The company is set to bring podcasts directly on the Facebook app within the next few months. Markedly, users currently have to leave the Facebook app to listen to podcasts. The upcoming feature will allow them to listen to podcasts “both while using the app or when the app is backgrounded.”
Furthermore, Facebook will help users find podcasts as per their interests.
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Facebook (FB) to Launch Audio Products to Counter Clubhouse
Facebook is gearing up to enter the audio-focused social media market. The social-networking giant is set launch new audio creation tools, Soundbites and Live Audio rooms to counter the growing influence of Clubhouse.
Facebook has been investing in audio technologies like speech-to-text and voice morphing to power its new audio-creation tools. These will be available directly on the Facebook app.
The company expects to offer top-notch audio quality by leveraging AI that will help in lowering noise. Its more than 3 billion users will be able to access music from Facebook’s Sound Collection in the background of their stories. Facebook’s offering will also include tools to mix audio tracks, a collection of sound and voice effects, as well as filters.
The new audio-creation tools will help users create short-form audio clips called Soundbites. Facebook is collaborating with creators to bring new audio content to its users. The company also expects to start testing this product over the next few months.
Moreover, Facebook is set to test Live Audio Rooms in Groups and expects to launch the product on the Facebook app as well as Messenger by summer. The company is partnering with public figures to bring new audio content to its users.
Facebook, Inc. Price and Consensus
Facebook, Inc. price-consensus-chart | Facebook, Inc. Quote
Notably, Facebook is not the only company challenging Clubhouse’s dominance. Tech-giants like Twitter , Microsoft (MSFT - Free Report) and Slack are pushing aggressively to offer Clubhouse-like features.
For instance, Twitter, through its Spaces product (currently in testing) and Voice Tweets, has been venturing into audio streaming. Moreover, Microsoft’s LinkedIn is testing a professional audio-streaming functionality for its users. Slack also recently announced plans to add audio features, including Clubhouse-like audio chat-rooms.
Nevertheless, Facebook, thanks to its huge user base, is expected to enjoy competitive edge in the long haul. This Zacks Rank #3 (Hold) company’s new audio-focused features are expected to keep users engaged, thereby driving advertising revenues. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Facebook also plans to offer monetization opportunities for audio content creators, including “charge for access to a Live Audio Room through a single purchase or a subscription.” For Soundbites, Facebook plans to launch an Audio Creator Fund to support emerging audio creators.
Additionally, Facebook is taking initiatives to strengthen its footprint in the podcast market. The company is set to bring podcasts directly on the Facebook app within the next few months. Markedly, users currently have to leave the Facebook app to listen to podcasts. The upcoming feature will allow them to listen to podcasts “both while using the app or when the app is backgrounded.”
Furthermore, Facebook will help users find podcasts as per their interests.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>