From NASDAQ:

Alphabet’s Google has announced a new feature allowing podcasters to upload audio-first episodes to YouTube. The update includes various customization features for podcasters and will help attract new content creators, especially podcasters, to the platform. This move is expected to have a significant impact on the network’s growth.

In addition to the latest update, Google has introduced AI-powered features to YouTube, partnered with Peloton Interactive’s streaming service, and launched a mobile app, YouTube Create, for AI-enabled video production. These features will help strengthen YouTube’s subscriber base and give Alphabet an edge in the global video streaming market.

These endeavors will significantly increase YouTube’s subscriber base and, in turn, strengthen Alphabet’s position in the global video streaming market, which is projected to reach $1.9 trillion by 2030. Additionally, these efforts will contribute to the growth of Alphabet’s Google Services segment.

Shares of GOOGL have gained 56.1% in the past year, suggesting strong growth prospects for the company. Moreover, the strengthening Google Services segment is expected to contribute to its overall financial performance. The Zacks Consensus Estimate for 2024 anticipates year-over-year growth in both total revenues and earnings for Alphabet.

Alphabet carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader technology sector include Camtek (CAMT) and DigitalOcean (DOCN), each sporting a Zacks Rank #1 (Strong Buy) at present. These stocks have shown promising returns and are expected to have strong earnings growth in the long term.



Read more: Alphabet (GOOGL) Boosts YouTube Capabilities for Podcasters