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Alphabet (GOOGL) Google to Update YouTube Music With Explore
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Alphabet’s (GOOGL - Free Report) division Google is making every effort to bolster presence in the music streaming market on the back of updating features on YouTube Music.
Reportedly, the ‘Hotlist’ feature on the streaming service will soon be replaced by a new feature called ‘Explore’ that is a testament to the same.
The new feature will be released on mobile apps first and then will be rolled out for the desktop.
The company is striving to deliver enhanced music experience to users with Explore feature, which will help them explore and enjoy new music and artists. Moreover, the feature will aid in finding trending and popular playlists as well.
Move to Benefit
We believe the new feature will enhance the user interface of YouTube Music app.
We note that the company will be introducing two tabs within Explore – New Releases and Moods & Genres.
The first tab will suggest new content based on user’s music history and focus on new music videos and albums. The second one will be focused on mood and environment specific tracks and genres.
All these advanced features will help Google to attract new users and bolster subscriber base. This, in turn, will accelerate revenue generation within YouTube in the near term. Further, this will drive the top line within Alphabet’s Google segment, which contributed the most to revenues.
Moreover, the latest move will aid the company in gaining traction in the current shutdown scenario where people around the world are under house arrest in order to mitigate the spread of contagious COVID-19. Notably, the coronavirus outbreak has resulted in the rapid adoption of Internet-based services and entertainment apps over the past few weeks.
Coronavirus-induced lockdown scenario in various parts of the world is expected to bolster the adoption rate of music streaming apps further.
Moreover, increasing usage of smartphones and Internet has resulted in growth of music streaming services.
We believe music streaming service providers such as Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , Spotify (SPOT - Free Report) and Google are well-poised to capitalize on the abovementioned upbeat scenario.
Apart from Google, these companies are also well-positioned to gain steam in the music streaming space backed by advanced features of their services.
Hence, the music streaming battle intensifies with growing endeavors of the abovementioned companies.
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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Alphabet (GOOGL) Google to Update YouTube Music With Explore
Alphabet’s (GOOGL - Free Report) division Google is making every effort to bolster presence in the music streaming market on the back of updating features on YouTube Music.
Reportedly, the ‘Hotlist’ feature on the streaming service will soon be replaced by a new feature called ‘Explore’ that is a testament to the same.
The new feature will be released on mobile apps first and then will be rolled out for the desktop.
The company is striving to deliver enhanced music experience to users with Explore feature, which will help them explore and enjoy new music and artists. Moreover, the feature will aid in finding trending and popular playlists as well.
Move to Benefit
We believe the new feature will enhance the user interface of YouTube Music app.
We note that the company will be introducing two tabs within Explore – New Releases and Moods & Genres.
The first tab will suggest new content based on user’s music history and focus on new music videos and albums. The second one will be focused on mood and environment specific tracks and genres.
All these advanced features will help Google to attract new users and bolster subscriber base. This, in turn, will accelerate revenue generation within YouTube in the near term. Further, this will drive the top line within Alphabet’s Google segment, which contributed the most to revenues.
Moreover, the latest move will aid the company in gaining traction in the current shutdown scenario where people around the world are under house arrest in order to mitigate the spread of contagious COVID-19. Notably, the coronavirus outbreak has resulted in the rapid adoption of Internet-based services and entertainment apps over the past few weeks.
Alphabet Inc. Price and Consensus
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Intensifying Competition
Coronavirus-induced lockdown scenario in various parts of the world is expected to bolster the adoption rate of music streaming apps further.
Moreover, increasing usage of smartphones and Internet has resulted in growth of music streaming services.
We believe music streaming service providers such as Apple (AAPL - Free Report) , Amazon (AMZN - Free Report) , Spotify (SPOT - Free Report) and Google are well-poised to capitalize on the abovementioned upbeat scenario.
Apart from Google, these companies are also well-positioned to gain steam in the music streaming space backed by advanced features of their services.
Hence, the music streaming battle intensifies with growing endeavors of the abovementioned companies.
Currently, Google parent Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>