Connect with us

Hi, what are you looking for?

Economy

Elon Musk’s X Launches TV App, Is YouTube Dominance At Risk?

Nearly five months after Elon Musk hinted at the potential launch of a X TV app, the social media company has finally achieved the feat. According to an X post, this will allow users to access the platform directly from their television screens. This has also been tagged as the launch of YouTube’s potential competitor, considering the massive user base of the “free speech” app.

X TVAligns With Elon Musk “Everything App” Vision

In April, X decided to take a deeper foray into the video and entertainment space by introducing the TV app. While the exact launch date for the app was not disclosed at the time, it seemed likely that it would bring the social media platform into close competition with Alphabet Inc.’s YouTube.

With its recent debut, smart TV owners can now cast videos from their smartphones to their larger screens through the app.

Speculatively, this new development could see a sizable adoption from X users and eventually generate huge revenue for Elon Musk and his company. A few weeks before the X TV app was first introduced, X users watched 23 billion minutes worth of video on the app. This huge statistics comes as a backing catalyst for the new product.

The social media platform is looking to also incorporate advertisements. If eventually achieved, the move could be beneficial to sectors like crypto that wish to promote non-mainstream media-friendly products and services. It also reflects Musk’s effort towards expanding the X app.

He remains focused on transforming X from a text and image-based social platform to more of an “everything app.”

Can Growing Regional Ban Derail X?

At the beginning of this year, Musk hinted at the launch of XMail. The announcement ignited speculation of competition with Google’s longstanding email service Gmail. Unfortunately, the timing of X’s potential foray into email services coincides with rumors circulating about Google’s rumored plans to sunset Gmail.

Amidst this applaudable question to make X an ‘everything app,’ it is worth noting that the social media platform is facing unique challenges. A few days ago, the Federal Supreme Court, led by Minister Alexandre de Moraes suspended X in Brazil after it failed to appoint a legal representative within a mandated 24-hour deadline.

Additionally, the X platform is under threat of a ban in the European Union, owing to certain concerns about censorship permissions.

The post Elon Musk’s X Launches TV App, Is YouTube Dominance At Risk? appeared first on CoinGape.

You May Also Like

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com