Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) division Google is leaving no stone unturned to add features to its music-streaming service YouTube Music.
9TO5Google, Google is rolling out Autoplay filters on YouTube Music for Android and iOS users.
The filter includes Familiar, Discover, Popular, Deep cuts, Workout, Upbeat, Pump-up, Hip-hop, R&B, Pop, Instrumental, Alternatives, 2000s and 2010s.
With Autoplay filters, Google aims to help users find more songs to listen to without browsing the Home feed.
This will provide an enhanced music-streaming experience to Android and iOS users. This is likely to boost the adoption rate of YouTube Music.
Thus, the increasing uptake of YouTube Music is expected to benefit GOOGL’s top-line in the near term.
Growing YouTube Music Efforts
Apart from the latest move, Alphabet recently rolled out the redesigned album UI on the Android tablet. The redesign version shows the artiste’s name, type of media and the release year on top. Options like download, add to library, play, share and an overflow menu are also included.
In addition, GOOGL introduced shortcut features and an album carousel to the YouTube Music’s Explore tab.
GOOGL added a capability whereby users can save queues as playlists. Alphabetalso rolled out its Recent Played and Turntable widgets to Android users.
With these recent efforts, Google positioned itself well to rapidly penetrate the booming global music-streaming market.
The market has been witnessing significant growth for a while owing to an increase in mobile advertisement spending, use of mobile apps, rise in the number of subscription services and users’ accessibility to local content on the music streaming platforms.
Per a Grand View Research
report, the global music streaming market is expected to see a CAGR of 14.7% from 2022 to 2030. Competitive Music Streaming Market
However, Alphabet faces intense competitive pressure from other companies like
Amazon ( AMZN Quick Quote AMZN - Free Report) , Apple ( AAPL Quick Quote AAPL - Free Report) and Spotify ( SPOT Quick Quote SPOT - Free Report) , which are making consistent efforts to capitalize on the above-mentioned prospects.
Amazon is gaining strong momentum in the music streaming market on the back of its expanding global footprint. AMZN offers its premium music subscription service Amazon Music Unlimited to customers. With Amazon Music Unlimited, music lovers can listen to any song anytime and anywhere on all types of devices, including smartphone, tablet, PC/Mac, Fire TV and Alexa-enabled devices like Amazon Echo.
Apple’s music-streaming service Apple Music offers a subscription tier powered by Siri named Apple Music Voice Plan. Using Apple Music Voice Plan, subscribers can access millions of songs, playlists, personalized mixes, genre stations and Apple Music Radio. Music listeners can also download the Apple Music app on their Android tablet or Chromebook supporting Android apps.
Spotify provides commercial free music and ad-supported services to customers. Music lovers can enjoy ad-free music and offline playbacks with Spotify Premium service. SPOT users can enjoy the tablet version of Spotify on their iPad or Android tablets.
Amazon, Apple and Spotify’s growing efforts are expected to remain a threat to Alphabet’s position in the music streaming market.