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Facebook Will Become Google, iTunes, Twitter and a News Resource in One

September 23, 2011 8:09 AM EDT
GOOG Hot Sheet
Overall Analyst Rating:
    BUY (= Flat)

EPS Growth %: +24.8%
At Facebook’s F8 conference Thursday, the company’s CEO Mark Zuckerberg announced multiple new ways in which users can use the site to become more social.

Facebook has partnered with the likes of Spotify Inc., Hulu, and Rdio Inc. to contribute platforms for people to share music, movies, TV shows, news and participate in other activities such as cooking and exercising.

One of the new features on the site is called “Timeline,” which allows one to highlight important news feeds while others can use it to see where you have been and what music and information you have listened to or looked up recently. These new changes are to entice users to stay on the site longer. The company wants to make it so users don’t have to go to Google (Nasdaq: GOOG) to look something up or go to Apple’s (Nasdaq: APPL) iTunes to listen to their music.

Another feature will provide feeds and information from news providers like News Corp. (Nasdaq: NWSA), Gannett Co., USA Today, and Yahoo Inc. (Nasdaq: YHOO).

Netflix (Nasdaq: NFLX) is also partnering with Facebook to include a video sharing feature called “In the Loop.” This application will display the user’s choice and taste in music, movies, and TV shows.

Nike Inc. (NYSE: NKE) and Foodspotting are two company’s included in the sites so-called “lifestyle” applications. This feature will provide an easy way for people to let others know about their activities such as exercising, cooking, reading, and more.


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