Google Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL)-How Google Change Streaming Space With Kaleidoscope

The average American has three streaming services. Alphabet Inc (NASDAQ:GOOG) wants to help steamers track all available TV shows and movies. Recent testing by the company has revealed that it could soon compete with Roku Inc (NASDAQ:ROKU).

What Happened: A screenshot of Chrome Story on the website showed off Google’s new streaming platform.

The screenshots show that the company is quietly working on organizing a streaming service for users, allowing search tools to see if a particular show or movie is being offered to consumers. is.

Consumers now have separate apps for all paid and free streaming services. Google may be looking to combine them all in one platform. The report also suggests that Google may be working on integrating YouTube and Google Play movies into the platform. Both services are owned by technology giants.

Fast Company emphasizes the fact that Microsoft (NASDAQ:MSFT) attempted a similar launch on Xbox One in 2013. The company eventually abandoned this technology.

Xbox One allows users to plug a Comcast/Xfinity cable box into the console to keep track of cable channels and streaming apps the user has subscribed to.

Why it matters: With this new platform, Google could be a rival to Roku. Cross-app search function has been added to Roku.

Last week, Citi launched coverage for Roku stocks and set a buy and $180 price target.

City analysts say Roku has grown from 43 million subscribers to 125 million and revenue per Roku account could grow from $23 in 2019 to $32 in 2022. I will.

According to Citi, the value of a Roku account is $180 in 2022 and could grow from $115 in 2019.

On Google’s new platform, customers may not need to register with Roku. Google has a huge user base with Android phones, Google Chrome browsers and YouTube video services.

The sum of all these numbers can be the same as the original user base of the Kaleidoscope platform.

Google can use this platform to further monetize its advertising business and promote YouTube and Google Play movies.

Streaming Market: According to the Hollywood Reporter, Americans spend $37 a month on streaming subscriptions.

Deloitte’s survey shows an average of three subscription services per user.

That’s a huge increase from three years ago, when only 50% of people subscribed to one US streaming service (probably Netflix).

Netflix Inc (NASDAQ:NFLX) has 61.3 million subscribers. Amazon.com, Inc. (NASDAQ: AMZN) has 42.2 million subscribers. Apple TV+, one of Apple Inc.’s latest services (NASDAQ: AAPL), has 33.6 million subscribers.

Hulu has 31.8 million subscribers. Disney+ from Walt Disney Co (NYSE: DIS) is a new streaming service with 23.2 million subscribers.

AT&T (NYSE:T) HBO Max can have 43 million subscribers, given a free subscription to each existing HBO subscriber.

GOOG, GOOGL, ROKU Price Action: Alphabet Class A shares fell 0.6% to $1,629.53 on closing Monday. Stock prices in 2020 are up 22%.

At the beginning of August, GOOG’s stock price hit a record high of $1,659.22.

Roku’s share rose 20% in 2020, reaching a record high of $177.54 in early August. The stock closed 0.36% above Monday’s session at $173.48.

© 2020 Benzinga.com. Benzinga does not provide investment advice. all rights reserved.

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