Google Inc (GOOGL) Throws Its Hat In Digital News Space With News Lab

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Google Inc (NASDAQ:GOOGL) is entering the digital news space with the launch of ‘News Lab’. Obviously, the company felt the pressure of entering the segment when its rivals are busy in announcing tie-ups with different media firms. For instance, Facebook Inc (NASDAQ:FB) has signed a deal with some media firms for the exclusive articles. Others like Twitter Inc (NYSE:TWTR), Apple Inc. (NASDAQ:AAPL) and Snapchat have also been in the race.

Collaboration

Google Inc (NASDAQ:GOOGL)’s News Lab is initiated by Steve Grove. The objective is to align with journalists, as well as, entrepreneurs to establish the future of news. The idea is different from what the social media networking sites signed with some media companies. However, the company is also ready to work with publishers on an exclusive basis to offer customized data for their newsroom.

Grove indicated that the international team of journalists would be armed with tools like Maps, YouTube, and Earth besides data for news stories. Also, Google Inc (NASDAQ:GOOGL)’s Google Trends will be a much more useful tool for the writers so that they could scan curated headlines, as well as, topics on a day-today basis.

Partnership

Aside from these, the search engine giant is also aligning with media startup accelerator programs. For this, the company expects citizen journalism to take off from its projects such as YouTube Newswire, WITNESS Media Lab, and First Draft. Grove said that the objective was to ensure innovation in news transforms into a more informed, as well as, democratic world. Also, the company wants to ensure quality information that is accessible to all and from everywhere.

With the smartphone adoption rate higher and 4G LTE is ready to provide higher speed, news in the form of digital will gain more traction in the coming years. Google Inc (NASDAQ:GOOGL)’s YouTube is already facing pressures from Facebook Inc (NASDAQ:FB). Therefore, no one wants to be left behind in the digital news space.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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