The stock of Alphabet Inc (NASDAQ:GOOG) closed at $957.79 gaining 0.47% in yesterday’s trading session. A Wall Street analyst has revealed that The Company’s YouTube TV has 200,000 subscribers and by the end of 2018 it could most probably be hitting the 2 million mark.
One of the people that commented on the matter is Andy Hargreaves of KeyBanc Capital Markets. He made a statement outlining that YouTube TV hadn’t yet become profitable, but Google-parent Alphabet wasn’t alarmed by that.
According to him, the service has been expanded to cover about 50 cities. He remains positive that the recent development will move quite a long way towards helping accelerate subscriber growth in the near future.
YouTube TV has been broadcasting a wide array of live content. YouTube TV’s progress is being monitored closely considering the fact that Google is just making its way into the video streaming arena. The incumbent pay-TV has over the years streamed a wide range of video streaming services which continue to receive many views.
DISH Network Corp (NASDAQ:DISH) provides Sling TV and AT&T Inc (NYSE:T) sells DirecTV.
In May, Hulu unveiled its live TV service. Time Warner Inc (NYSE:TWX), Twenty-First Century Fox Inc (NASDAQ:FOXA), Walt Disney (NYSE:DIS) and Comcast Corporation (NASDAQ:CMCSA) all have a stake in Hulu. Amazon.com, Inc (NASDAQ:AMZN) is also a newcomer in the video streaming arena. It hasn’t yet kick started the broadcast of live TV from the top four broadcasters. Apple’s spokesperson said that the company had plans underway to start offering Amazon Video Prime app. That will start at the late stages of this particular year and it will be offered on the company’s TV platform.
Hargreaves opined, “Despite a likely lack of direct profits, YouTube TV provides Google with a portion of TV ad inventory on the service. We believe YouTube TV represents a significant opportunity to capture share of the $70 billion U.S. TV ad market.”
Google is laying down strategies to help it sharpen its competitive edge in the market.