Dolby Laboratories, Inc. (DLB - Free Report) recently announced a Dolby Atmos consumer campaign featuring Colombian reggaeton artist, J Balvin. The move is aimed at creating a deeper connection with music lovers.
Dolby Atmos Music has not only emphasized on nurturing a creative and emotional experience with artists through music, but has also pushed the boundary to combine efforts with record labels, streaming services, and consumer electronics manufacturers to create a breakthrough holistic experience in the audio and video industry.
A few months back, Dolby inked strategic partnerships with Universal Music Group and Warner Music Group to bring an immersive experience to music lovers. Together, the companies aim to help take music to the next level by leveraging the enriched capabilities of Dolby Atmos. The collaboration strengthened Dolby’s potential to unlock multi-dimensional angles to the soundscapes to enable music lovers feel exceptional song clarity and depth. This, in turn, has encouraged music composers and artists to be expressive and experimental with instruments and vocals, thereby enriching the recording content.
Dolby’s long-term growth strategy stands on three pillars, namely advancing the science of sight and sound, providing creative solutions, and delivering superior experiences. Of late, the company’s Dolby Vision and Dolby Atmos, have been acting as major profit churners. It has maintained long-standing partnerships with industry frontrunners like Apple Inc. (AAPL - Free Report) , Alphabet Inc. (GOOGL - Free Report) , Amazon.com, Inc. (AMZN - Free Report) and Netflix to offer best-in-class services and combat intense competition. The partnerships leverage on core strengths to venture into new domains and gain greater market traction.
Currently, it is focusing on expanding its product portfolio and has already developed new applications for voice conferencing and imaging solutions that enable HDR picture quality in televisions and cinemas. Some newly introduced products are Dolby Voice, Dolby Vision and Dolby Cinema.
The image and voice technology juggernaut believes that surging demand for premium viewing and audio experiences will fuel growth over the long haul. Market reports suggest that consumers are increasingly viewing video content on smartphones, tablets and computers, which in turn, is expected to unlock additional opportunities for the company.
Backed by impressive growth trajectory, the stock has gained 11.4% compared with the industry’s rise of 27.8% in the year-to-date period.
Dolby currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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