In order to match strides with competitors, Verizon Communications Inc. (VZ - Free Report) has collaborated with industry-leading web-based video playback services providers, THEO Technologies and IRIS.TV, to enrich its video streaming network. The integration of the THEOplayer Universal Video Player and IRIS.TV’s Video Personalization Platform will expand the capabilities of Verizon Digital Media Services to offer more personalized service to users and thwart competitive pressure.
With a global network spanning six continents, Verizon Digital Media Services is an integrated digital media platform that monetizes online content. It leverages cloud computing technologies to build its streaming platform to facilitate the seamless integration of approved technology partners such as THEOplayer and IRIS.TV.
THEOplayer Universal Video Player is an award-winning video playback solution that offers engaging video content on any device. It provides high-quality viewer experience with advertising functionality to monetize video content. On the other hand, IRIS.TV banks on artificial intelligence (AI) capabilities to offer video personalization. The AI-powered programming platform uses machine learning techniques to generate unique insights about audience behavior and monetize content while retaining viewers through personalized touch.
Such engaging video streaming contents seem to be the call of the hour to deter competition. Last month, AT&T Inc. (T - Free Report) decided to restructure its WarnerMedia business and focus more on video streaming content. It is planning to launch an early version of its HBO-led subscription video streaming service later this year while continuing HBO Now as a separate streaming service. This is likely to bring stiff competition to Netflix, Inc. (NFLX - Free Report) , which has a 150-million subscriber base with direct-to-consumer video streaming services, and The Walt Disney Company (DIS - Free Report) , which is set to launch its Disney+ streaming service by the year end. (Read More: AT&T Restructures WarnerMedia to Focus on Streaming Content)
A few days back, T-Mobile US, Inc. (TMUS - Free Report) inked a content distribution agreement with Viacom Inc. to bring together live linear feeds of Viacom channels coupled with a range of on-demand content for nearly 80 million customers. The move is expected to play a crucial role in the wireless carrier’s delivery of new mobile video services to consumers, later this year. (Read More: T-Mobile Collaborates With Viacom to Tap Streaming Services)
It remains to be seen whether Verizon will be able to outsmart its rivals with the strategic collaborations for an enriching streaming content. Nevertheless, this Zacks Rank #3 (Hold) stock has recorded an average return of 22.5% in the past year compared with growth of 4.4% of the industry.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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