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Alphabet's (GOOGL) Google TV to Attract Users With New Feature

·3 min read

Alphabet’s GOOGL division Google is consistently adding features to the video-streaming platform, Google TV.

According to 9TO5Google, Google is gearing up to showcase content on Google TV with audio descriptions.

Per the report, the audio description will narrate the visual information and the movie’s general dialogue to help users with visual impairment understand the movie or TV shows properly.

To avail the audio description feature, users can press the Google Assistant button and say, “Search audio description movies”.

On the back of audio-description capability, Google aims to provide an enhanced experience to users with visual impairment.

Alphabet Inc. Price and Consensus

Alphabet Inc. Price and Consensus
Alphabet Inc. Price and Consensus

Alphabet Inc. price-consensus-chart | Alphabet Inc. Quote

This, in turn, is expected to increase customer engagement on the Google TV platform.

Growing Google TV Initiatives

Apart from the latest step, GOOGL rolled out an innovative capability, Google TV Profiles, which let users create multiple profiles and switch among the same to get a personalized content experience.

Alphabet also released Google TV’s revamped screensaver, which shows customized results for weather, videos, music, quotes, sports score, and news and screensaver photos.

Additionally, Google TV was made available on iOS for iPhone and iPad users. It replaced the Google Play Movies & TV app on iOS.

Also, Alphabet’s growing efforts to expand Google TV app globally remain noteworthy. Currently, the Google TV app on Android is available in more than 100 countries. GOOGL has plans to expand further in the coming months.

All these endeavors will continue to help Google penetrate the growing streaming market rapidly.

Per a Fortune Business Insights report, the global video streaming market is expected to reach $1.69 trillion by 2029 from $473.4 billion in 2022, witnessing a CAGR of 19.9% between 2022 and 2029.

The underlined market has been witnessing significant growth for a while owing to the increasing number of video-streaming platforms as consumers are spending more on media and entertainment.

We believe, Google’s growing prospects in this booming market are likely to aid its parent company Alphabet in winning investors’ confidence in the near and the long term.

Shares of Alphabet have been down 25.2% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 27.7%.

Competitive Market Scenario

Given the strong growth potential in the video-streaming market, the search-giant faces intense competition from the iPhone maker Apple AAPL.

Apple, which has lost 13.1% in the year-to-date period, is continuously witnessing solid momentum across its video-streaming platform Apple TV.

Apple’s growing interest in sports streaming remains a major positive. Recently, AAPL signed a multi-year agreement with Nike to create and produce sports movies. Further, its growing original and regional content portfolio is helping it expand its user base.

Nevertheless, Alphabet’s consistent enhancements of Google TV are expected to help it gain a competitive advantage over its aforesaid peer.

Zacks Rank & Stocks to Consider

Currently, Alphabet carries a Zacks Rank #3 (Hold). Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like ASE Technology ASX and Monolithic Power Systems MPWR, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ASE technology has lost 27.5% in the year-to-date period. The long-term earnings growth rate for ASX is currently projected at 23.1%.

Monolithic Power Systems has lost 11.1% in the year-to-date period. The long-term earnings growth rate for MPWR is currently projected at 25%.

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