Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

YouTube Jumps Streaming Video Marketplace Bandwagon, Joining Likes Of Amazon, Apple

Published 15/08/2022, 13:12
Updated 15/08/2022, 14:11
© Reuters YouTube Jumps Streaming Video Marketplace Bandwagon, Joining Likes Of Amazon, Apple

© Reuters YouTube Jumps Streaming Video Marketplace Bandwagon, Joining Likes Of Amazon, Apple

Alphabet (NASDAQ:GOOGL) Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube is planning to launch an online store for streaming video services, the Wall Street Journal reports. YouTube hopes the new platform referred to internally as a "channel store" could be available as early as this fall.

YouTube currently allows subscribers to YouTube TV, its $64.99-a-month online package of cable channels, to add on a subscription to services like HBO Max. The new marketplace would allow consumers to choose streaming services a la carte through the main YouTube app.

Also Read: Disney, Sony, ViacomCBS To Bid For Rights To This Popular Indian Cricket League

YouTube has explored splitting subscription revenue with streaming partners. It would join the likes of Amazon.com Inc (NASDAQ: NASDAQ:AMZN), Roku, Inc (NASDAQ: ROKU), and Apple Inc (NASDAQ: NASDAQ:AAPL), which all have their hubs to sell streaming video services.

NBCUniversal's Peacock weighed adding streaming services of potential partners to its app.

Netflix Inc (NASDAQ: NASDAQ:NFLX) and other streaming services have agreed to be part of Verizon Communications Inc's (NYSE: NYSE:VZ) plan which lets customers sign up for and manage their streaming services through the connectivity company's interface.

"They are making their services available in as many places as possible so that they have as big a shot as possible of getting people," Chicken Soup for the Soul Entertainment, Inc (NASDAQ: CSSE) CEO Bill Rouhana said.

Streaming companies like Netflix battled subscriber losses as the world gradually recovered from the pandemic and people started moving out for entertainment. Additionally, the inflation, geopolitical crisis, and uncertain macro tightened consumer spending.

Price Action: GOOG shares traded lower by 0.53% at $122 premarket on the last check Monday.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.