Alphabet Inc (NASDAQ:GOOG) is trending today after the company’s YouTube live TV offering debuted in five major markets – Los Angeles, New York, San Francisco, Philadelphia and Chicago. YouTube’s offering, which costs $35 a month, includes channels from CBS, Fox, Disney, and NBCUniversal, and will roll out its service for further markets ‘soon’.
After having bought YouTube for a few billion dollars around a decade ago, YouTube is now arguably Alphabet Inc (NASDAQ:GOOG)’s second most valuable property — after the company’s search unit. With more and more millennials cutting the cord, YouTube is in prime position to capture some of the benefits of the secular shift from television to the web. Given that TV revenue is still in aggregate comparable to web revenue, the success of YouTube’s live TV streaming option could determine a big part of Alphabet’s future growth over the next decade.
What Does The Smart Money Sentiment Say?
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Like some other major tech names, it seemed that the smart money took some money off the table in Q4. Of the 742 elite funds we track, 126 funds owned $12.74 billion of Alphabet Inc (NASDAQ:GOOG) and accounted for 2.40% of the float on December 31, versus 134 funds and $14.23 billion respectively on September 30.
The Bottom Line
Alphabet Inc (NASDAQ:GOOG) is in the spotlight after its YouTube division debuted a live TV streaming offering in five major markets. For more reading, check out ‘The 12 Most Expensive Acquisitions Made by Google‘.