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Alphabet (GOOGL) to Boost YouTube TV With Redesigned Features
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Alphabet’s (GOOGL - Free Report) division Google is consistently adding new features to its online video-streaming service, YouTube.
This is evident from the fact that the company recently redesigned Library and Live tabs to provide a user-friendly interface based on personalized suggestions.
The Library tab shows all users’ recorded content that you watch. The Live tab integrates a highlighted state letting users to quickly see what they are watching. Moreover, a side panel was added to show an Add to Library button.
On the back of this initiative, Google aims to provide an enhanced streaming experience to users. This is expected to increase the adoption rate of YouTube TV in the days ahead.
This, in turn, is likely to aid the performance of Google Services segment, which contributes the most to Alphabet’s top line.
Revenues from the Google services business increased 2.5% year over year to $61.4 billion, accounting for 88.8% of the total third-quarter revenues.
Apart from the recent move, Google is offering YouTube TV 4k Plus discounts for select subscribers. The effort is a step to gain momentum among customers.
Google is working on a multi-screen viewing capability on YouTube TV. The initiative focuses on providing an enhanced viewing experience to sports fans.
In an effort to increase its sports credentials, Google collaborated with the National Football League (NFL) and acquired exclusive rights of the NFL Sunday ticket for streaming Sunday games on YouTube TV and YouTube Primetime Channels.
With consistent efforts, Alphabet remains well-poised to rapidly penetrate the booming global video-streaming market.
Per a Precedence Research report, the underlined market is expected to reach $1.7 trillion by 2030, seeing a CAGR of 18.5% between 2022 and 2030.
Competitive Scenario
Given this upbeat scenario, not only Alphabet but other major companies like Amazon (AMZN - Free Report) , Apple (AAPL - Free Report) and The Walt Disney Company (DIS - Free Report) are making strong efforts to expand their market share in the video-streaming space.
Amazon, which has lost 37.1% in the past year, is gaining traction among customers on the back of its video on-demand service, Prime Video. On AMZN’s video platform, viewers can watch movies, TV series and exclusive Amazon Originals.
Apple is witnessing solid momentum across its video-streaming platform, Apple TV. Apple’s growing original and regional content portfolio is helping it expand its user base. Shares of AAPL have been down 17.8% in the past year.
Disney is riding on the growing popularity of Disney+ owing to a strong content portfolio and a cheaper bundle offering. Moreover, DIS’s growing sports streaming initiatives remain a positive. Shares of DIS have lost 32.9% in the past year.
Nevertheless, Alphabet’s growing streaming efforts, strategic partnerships and strong service offerings are helping it to gain a competitive edge against the aforesaid peers.
Consequently, this will help GOOGL win the confidence of the investors in the near and long terms.
Shares of GOOGL have been down 31.6% in the past year compared with the Computer and Technology sector’s decline of 24.8%.
Image: Bigstock
Alphabet (GOOGL) to Boost YouTube TV With Redesigned Features
Alphabet’s (GOOGL - Free Report) division Google is consistently adding new features to its online video-streaming service, YouTube.
This is evident from the fact that the company recently redesigned Library and Live tabs to provide a user-friendly interface based on personalized suggestions.
The Library tab shows all users’ recorded content that you watch. The Live tab integrates a highlighted state letting users to quickly see what they are watching. Moreover, a side panel was added to show an Add to Library button.
On the back of this initiative, Google aims to provide an enhanced streaming experience to users. This is expected to increase the adoption rate of YouTube TV in the days ahead.
This, in turn, is likely to aid the performance of Google Services segment, which contributes the most to Alphabet’s top line.
Revenues from the Google services business increased 2.5% year over year to $61.4 billion, accounting for 88.8% of the total third-quarter revenues.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing YouTube TV Initiatives
Apart from the recent move, Google is offering YouTube TV 4k Plus discounts for select subscribers. The effort is a step to gain momentum among customers.
Google is working on a multi-screen viewing capability on YouTube TV. The initiative focuses on providing an enhanced viewing experience to sports fans.
In an effort to increase its sports credentials, Google collaborated with the National Football League (NFL) and acquired exclusive rights of the NFL Sunday ticket for streaming Sunday games on YouTube TV and YouTube Primetime Channels.
With consistent efforts, Alphabet remains well-poised to rapidly penetrate the booming global video-streaming market.
Per a Precedence Research report, the underlined market is expected to reach $1.7 trillion by 2030, seeing a CAGR of 18.5% between 2022 and 2030.
Competitive Scenario
Given this upbeat scenario, not only Alphabet but other major companies like Amazon (AMZN - Free Report) , Apple (AAPL - Free Report) and The Walt Disney Company (DIS - Free Report) are making strong efforts to expand their market share in the video-streaming space.
Amazon, which has lost 37.1% in the past year, is gaining traction among customers on the back of its video on-demand service, Prime Video. On AMZN’s video platform, viewers can watch movies, TV series and exclusive Amazon Originals.
Apple is witnessing solid momentum across its video-streaming platform, Apple TV. Apple’s growing original and regional content portfolio is helping it expand its user base. Shares of AAPL have been down 17.8% in the past year.
Disney is riding on the growing popularity of Disney+ owing to a strong content portfolio and a cheaper bundle offering. Moreover, DIS’s growing sports streaming initiatives remain a positive. Shares of DIS have lost 32.9% in the past year.
Nevertheless, Alphabet’s growing streaming efforts, strategic partnerships and strong service offerings are helping it to gain a competitive edge against the aforesaid peers.
Consequently, this will help GOOGL win the confidence of the investors in the near and long terms.
Shares of GOOGL have been down 31.6% in the past year compared with the Computer and Technology sector’s decline of 24.8%.
Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.