Don't Know Your Password?
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Zacks Equity Research April 18, 2022
AMZN AAPL GOOGL SPOT
Trades from $1
You follow Analyst Blog - edit
You follow Zacks Equity Research - edit
Alphabet’s (GOOGL - Free Report) division Google has been consistently adding new features to YouTube Music in a bid to strengthen its offerings in the music streaming space.
Reportedly, YouTube Music’s introduction of shortcut features to the Explore tab for promoting albums serves as a testament to the abovementioned fact.
The shortcut capabilities comprise New releases, Charts, and Mood and genres pages.
Further, the music app added an album carousel with a Play button and a background image. Additionally, it provides a title and short description along with the cover art.
Currently, the feature is available to only a few selected Android, iOS and web users.
With the recent capability, Google aims to provide an enhanced music streaming experience to users. This, in turn, is likely to boost the adoption rate of YouTube Music.
Thus, the increasing adoption of YouTube Music is expected to benefit the company’s financial performance in the near term, which will further help it in winning investor confidence.
GOOGL has gained 10.7% versus the Computer and Technology sector’s decline of 10.4% in the past year.
Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote
Apart from the latest move, the company recently added a capability by which users can save queues as playlists. It also rolled out its “Recent Played” and “Turntable” widget to Android users.
Further, it rolled out the background listening feature for YouTube Music in Canada to provide an enhanced music experience to users in the country.
With these recent efforts, Google has positioned itself well to rapidly penetrate the booming global music streaming market.
The market has been witnessing significant growth due to an increase in mobile advertisement spending, use of mobile apps, rise in the number of subscription services and users’ accessibility to local content on music streaming platforms.
According to a report by Allied Market Research, the online music streaming industry is expected to reach $24.7 billion by 2027, progressing at a CAGR of 9.8% between 2021 and 2027.
Given this upbeat scenario, not only Google but also other companies like Amazon (AMZN - Free Report) , Apple (AAPL - Free Report) and Spotify (SPOT - Free Report) are making strong efforts to capitalize on the abovementioned prospects.
Amazon is gaining strong momentum in the music streaming market on the back of its expanding global footprint. Recently, itrolled out Amazon Music in Columbia and Chile, by which music fans in both the countries can access its premium music subscription service,Amazon Music Unlimited.
Meanwhile, Apple’s music streaming service, Apple Music, introduced a new subscription tier powered by Siri named Apple Music Voice Plan. With this launch, subscribers can access millions of songs, playlists, personalized mixes, genre stations and Apple Music Radio.
Further, Spotify expanded its podcast publishing and advertising platform, Megaphone, in Germany, France, Spain, and Italy to help local publishers create, distribute as well as monetize their podcast content.
Nevertheless, YouTube Music’s growing efforts toward expanding its features are expected to continue giving tough competition to the abovementioned peers.
Currently, Google’s parent Alphabet carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Amazon.com, Inc. (AMZN) - free report >>
Apple Inc. (AAPL) - free report >>
Alphabet Inc. (GOOGL) - free report >>
Spotify Technology (SPOT) - free report >>
Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next 30-90 days.
Recent stocks from this report have soared up to +178.7% in 3 months - this month’s picks could be even better. See our report’s 7 new picks today, absolutely FREE.
This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor’s Business Daily, Inc.; and Morningstar, Inc.
Copyright 2022 Zacks Investment Research 10 S Riverside Plaza Suite #1600 Chicago, IL 60606
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.97% per year. These returns cover a period from January 1, 1988 through February 28, 2022. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
Visit Performance Disclosure for information about the performance numbers displayed above.
Visit www.zacksdata.com to get our data and content for your mobile app or website.
Real time prices by BATS. Delayed quotes by Sungard.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.