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Alphabet (GOOGL) Aids Content Creators With Erase Song Tool
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Alphabet’s (GOOGL - Free Report) shares have rallied 35.2% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 29.7%. It is benefiting from the robust performance of the Google Services segment, which is mainly driven by Search, YouTube and Android.
YouTube is playing a vital role in driving Google Services’ growth prospects. The company is continuously expanding YouTube’s capabilities, thereby enhancing user experience.
Per a 9to5Google report, Alphabet’s division Google rolled out an updated version of YouTube’s "Erase Song" tool, allowing content creators to remove copyrighted songs from videos without affecting other audio.
The AI-based tool removes the song without affecting the creator's dialogue or other sounds, and can also mute all audio during specific video portions affected by the copyright claim.
Alphabet is expected to gain solid popularity among content creators on the back of this newly launched feature.
Year-to-Date Performance
Image Source: Zacks Investment Research
Strong YouTube Efforts to Note
Per a Mordor Intelligence report, the global media streaming market is expected to witness a CAGR of 7.9% between 2023 and 2028. Google remains well-positioned to capitalize on this solid growth opportunity on the back of its growing YouTube capabilities.
Recently, Google introduced new features like Jump Ahead and Shorts Picture-in-Picture for YouTube Premium subscribers. Jump Ahead allows users to skip frequently skipped sections, leveraging AI and viewership data. Shorts now support Picture-in-Picture on Android, allowing users to watch their favorite Shorts while browsing other apps or checking messages.
Google added a Cast menu redesign to the YouTube app. The updated Cast icon now features a floating bottom sheet with rounded corners, allowing users to control volume and voice search, and also provides remote control options for televisions.
It also introduced a redesign for YouTube Music on the web. This redesign features a dual-column layout with album information displayed on the left and songs displayed on the right. It also adds a blurred background for a lively experience.
Partnerships are also playing a key role in expanding YouTube’s adoption rate. Alphabet recently collaborated with Garmin (GRMN - Free Report) to expand the reach of YouTube Music to more platforms.
Per the terms, the YouTube Music app is now available on Garmin IQ Connect smartwatches. The app experience is similar to Wear OS watches, with users able to search their library for music and podcasts and a slick playing page with physical buttons for play, pause and skip.
Alphabet’s partnership with Peloton Interactive (PTON - Free Report) to further strengthen its YouTube business remains noteworthy. This partnership marks a significant step for Google to expand its YouTube TV subscriber base, as it requires Peloton All-Access members to have a YouTube TV subscription to watch content while on their machine.
Conclusion
The above-mentioned endeavors are expected to boost YouTube’s overall subscribers. In the first quarter of 2024, YouTube surpassed 100 million Music and Premium subscribers globally. YouTube TV recorded more than eight million paid subscribers in the same quarter.
Strength in YouTube is likely to continue aiding the Google Services segment’s performance.
Strengthening the Google Services segment will, in turn, drive Alphabet’s overall financial performance.
The Zacks Consensus Estimate for 2024 total revenues stands at $291.26 billion, indicating year-over-year growth of 13.6%.
The consensus mark for 2024 earnings is pegged at $7.60 per share, indicating a 31.03% rise from the year-ago figure. The figure has been revised upward by 0.4% in the past 60 days.
Moreover, growing YouTube capabilities will also help Alphabet compete with Meta Platforms (META - Free Report) , which is also making concerted efforts to strengthen its foothold in the media streaming market.
Meta Platforms is gaining solid momentum across content creators on the back of Facebook Live. Facebook Live allows users to broadcast conversations, performances, Q&As and virtual events from anywhere using the Facebook app or Creator Studio app. It also offers interactive tools like polls, featured links, Stories, comment moderation and badges.
Image: Bigstock
Alphabet (GOOGL) Aids Content Creators With Erase Song Tool
Alphabet’s (GOOGL - Free Report) shares have rallied 35.2% in the year-to-date period, outperforming the Zacks Computer & Technology sector’s growth of 29.7%. It is benefiting from the robust performance of the Google Services segment, which is mainly driven by Search, YouTube and Android.
YouTube is playing a vital role in driving Google Services’ growth prospects. The company is continuously expanding YouTube’s capabilities, thereby enhancing user experience.
Per a 9to5Google report, Alphabet’s division Google rolled out an updated version of YouTube’s "Erase Song" tool, allowing content creators to remove copyrighted songs from videos without affecting other audio.
The AI-based tool removes the song without affecting the creator's dialogue or other sounds, and can also mute all audio during specific video portions affected by the copyright claim.
Alphabet is expected to gain solid popularity among content creators on the back of this newly launched feature.
Year-to-Date Performance
Image Source: Zacks Investment Research
Strong YouTube Efforts to Note
Per a Mordor Intelligence report, the global media streaming market is expected to witness a CAGR of 7.9% between 2023 and 2028. Google remains well-positioned to capitalize on this solid growth opportunity on the back of its growing YouTube capabilities.
Recently, Google introduced new features like Jump Ahead and Shorts Picture-in-Picture for YouTube Premium subscribers. Jump Ahead allows users to skip frequently skipped sections, leveraging AI and viewership data. Shorts now support Picture-in-Picture on Android, allowing users to watch their favorite Shorts while browsing other apps or checking messages.
Google added a Cast menu redesign to the YouTube app. The updated Cast icon now features a floating bottom sheet with rounded corners, allowing users to control volume and voice search, and also provides remote control options for televisions.
It also introduced a redesign for YouTube Music on the web. This redesign features a dual-column layout with album information displayed on the left and songs displayed on the right. It also adds a blurred background for a lively experience.
Partnerships are also playing a key role in expanding YouTube’s adoption rate. Alphabet recently collaborated with Garmin (GRMN - Free Report) to expand the reach of YouTube Music to more platforms.
Per the terms, the YouTube Music app is now available on Garmin IQ Connect smartwatches. The app experience is similar to Wear OS watches, with users able to search their library for music and podcasts and a slick playing page with physical buttons for play, pause and skip.
Alphabet’s partnership with Peloton Interactive (PTON - Free Report) to further strengthen its YouTube business remains noteworthy. This partnership marks a significant step for Google to expand its YouTube TV subscriber base, as it requires Peloton All-Access members to have a YouTube TV subscription to watch content while on their machine.
Conclusion
The above-mentioned endeavors are expected to boost YouTube’s overall subscribers. In the first quarter of 2024, YouTube surpassed 100 million Music and Premium subscribers globally. YouTube TV recorded more than eight million paid subscribers in the same quarter.
Strength in YouTube is likely to continue aiding the Google Services segment’s performance.
Strengthening the Google Services segment will, in turn, drive Alphabet’s overall financial performance.
The Zacks Consensus Estimate for 2024 total revenues stands at $291.26 billion, indicating year-over-year growth of 13.6%.
The consensus mark for 2024 earnings is pegged at $7.60 per share, indicating a 31.03% rise from the year-ago figure. The figure has been revised upward by 0.4% in the past 60 days.
Moreover, growing YouTube capabilities will also help Alphabet compete with Meta Platforms (META - Free Report) , which is also making concerted efforts to strengthen its foothold in the media streaming market.
Meta Platforms is gaining solid momentum across content creators on the back of Facebook Live. Facebook Live allows users to broadcast conversations, performances, Q&As and virtual events from anywhere using the Facebook app or Creator Studio app. It also offers interactive tools like polls, featured links, Stories, comment moderation and badges.
Alphabet currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.