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Alphabet (GOOGL) Adds New Features for YouTube Premium Users
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Alphabet’s (GOOGL - Free Report) division Google recently introduced features for YouTube Premium users to provide an enhanced experience.
The new features include queuing on phones and tablets, Watch Together sessions on Android and iOS, cross-device viewing to continue watching videos across different devices, Smart Downloads for offline viewing, and enhanced video quality on iOS.
These updates will provide more control, convenience and improved viewing experiences for YouTube Premium members.
The latest move is expected to encourage YouTube premium subscription in the days ahead, in turn, aiding the performance of the Google Services segment, which contributes the most to Alphabet’s top line.
Revenues from the Google services business was $67.84 billion, accounting for 89.2% of the total fourth-quarter 2022 revenues.
Apart from the recent move, YouTube redesigned its icons. These small markers act as a kind of visual navigation system, guiding you through the app so you can create content or find things to watch.
Further, YouTube can now be used by professionals to claim credits for continuing education in medicine and nursing. Clinicians will be able to watch videos and claim Continuing Medical Education (CME) and Continuing Nursing Education (CNE) credits.
Healthcare professionals across specialties can access reliable, authoritative content on YouTube through the Harvard Medical School Continuing Education channel.
Riding on YouTube’s consistent efforts, Alphabet remains well-poised to capitalize on the growth prospects present in the booming video-streaming market.
Per a Grand View Research report, the market is expected to see a CAGR of 21.5% between 2023 and 2030.
According to a Statista report, revenues from the video-streaming market are expected to reach $137 billion by 2027, seeing a CAGR of 9.48% between 2023 and 2027.
We believe Alphabet’s growing prospects in this potential market are likely to aid it in winning investors’ confidence in the near term.
Shares of GOOGL have risen 19.4% in the year-to-date period, outperforming the Computer and Technology sector’s rise of 18.4%.
Competitive Scenario
Given the upbeat scenario, apart from Alphabet, other major companies, including Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) and Netflix (NFLX - Free Report) are making strong efforts to expand their presence in the video-streaming space.
Amazon is gaining popularity among customers through its video-on-demand service, Prime Video, which provides movies, TV shows, and exclusive Amazon Originals, keeping users glued to the platform. Further, online shopping perks like quick delivery, easy returns and great discounts on various products that come free with Prime subscription help Amazon to attract Prime subscribers. Shares of Amazon have been up 18.9% in the year-to-date period.
Apple, which has gained 23.7% in the year-to-date period, is continuously witnessing solid momentum across its video-streaming platform, Apple TV+. Apple is gaining popularity with its critically acclaimed and popular shows like Ted Lasso.
Netflix is benefiting from its diverse content portfolio, which is the result of significant investments in production and distribution of localized and foreign-language content. It also introduced games to keep users engaged to its platform. Netflix has gained 14.7% year to date.
Nonetheless, Alphabet's efforts to add useful features and rich video content on YouTube are expected to continue strengthening its position in the market.
Image: Bigstock
Alphabet (GOOGL) Adds New Features for YouTube Premium Users
Alphabet’s (GOOGL - Free Report) division Google recently introduced features for YouTube Premium users to provide an enhanced experience.
The new features include queuing on phones and tablets, Watch Together sessions on Android and iOS, cross-device viewing to continue watching videos across different devices, Smart Downloads for offline viewing, and enhanced video quality on iOS.
These updates will provide more control, convenience and improved viewing experiences for YouTube Premium members.
The latest move is expected to encourage YouTube premium subscription in the days ahead, in turn, aiding the performance of the Google Services segment, which contributes the most to Alphabet’s top line.
Revenues from the Google services business was $67.84 billion, accounting for 89.2% of the total fourth-quarter 2022 revenues.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Growing YouTube Initiatives
Apart from the recent move, YouTube redesigned its icons. These small markers act as a kind of visual navigation system, guiding you through the app so you can create content or find things to watch.
Further, YouTube can now be used by professionals to claim credits for continuing education in medicine and nursing. Clinicians will be able to watch videos and claim Continuing Medical Education (CME) and Continuing Nursing Education (CNE) credits.
Healthcare professionals across specialties can access reliable, authoritative content on YouTube through the Harvard Medical School Continuing Education channel.
Riding on YouTube’s consistent efforts, Alphabet remains well-poised to capitalize on the growth prospects present in the booming video-streaming market.
Per a Grand View Research report, the market is expected to see a CAGR of 21.5% between 2023 and 2030.
According to a Statista report, revenues from the video-streaming market are expected to reach $137 billion by 2027, seeing a CAGR of 9.48% between 2023 and 2027.
We believe Alphabet’s growing prospects in this potential market are likely to aid it in winning investors’ confidence in the near term.
Shares of GOOGL have risen 19.4% in the year-to-date period, outperforming the Computer and Technology sector’s rise of 18.4%.
Competitive Scenario
Given the upbeat scenario, apart from Alphabet, other major companies, including Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) and Netflix (NFLX - Free Report) are making strong efforts to expand their presence in the video-streaming space.
Amazon is gaining popularity among customers through its video-on-demand service, Prime Video, which provides movies, TV shows, and exclusive Amazon Originals, keeping users glued to the platform. Further, online shopping perks like quick delivery, easy returns and great discounts on various products that come free with Prime subscription help Amazon to attract Prime subscribers. Shares of Amazon have been up 18.9% in the year-to-date period.
Apple, which has gained 23.7% in the year-to-date period, is continuously witnessing solid momentum across its video-streaming platform, Apple TV+. Apple is gaining popularity with its critically acclaimed and popular shows like Ted Lasso.
Netflix is benefiting from its diverse content portfolio, which is the result of significant investments in production and distribution of localized and foreign-language content. It also introduced games to keep users engaged to its platform. Netflix has gained 14.7% year to date.
Nonetheless, Alphabet's efforts to add useful features and rich video content on YouTube are expected to continue strengthening its position in the market.
Currently, Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.