YouTube Forays Live Stream Shopping, Intensifies Rivalry With Instagram

  • Alphabet Inc GOOG GOOGL YouTube pitched itself to advertisers at the YouTube Brandcast event as a better place for their TV ad dollars, TechCrunch reports.
  • YouTube teased upcoming features that it claimed would make it easier for viewers to discover and buy from brands.
  • YouTube touted its forthcoming tools to offer advertisers a better way to engage viewers and connect with their audience.
  • YouTube’s shopping live streams platform also offers other tools specifically designed to drive sales. 
  • A YouTube feature will allow two creators to go live simultaneously to co-host a single live shopping stream, intensifying rivalry with Meta Platforms Inc FB Instagram.
  • Another feature will help creators start a shopping live stream on their channel, redirecting their audience to a brand’s channel for fans to keep watching. 
  • Lately, YouTube has been working to transform its platform into a shopping destination with product launches like shoppable ads or the ability to shop directly from live streams hosted by creators.
  • Price Action: GOOG shares traded higher by 0.44% at $2,258 on the last check Thursday.
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