Facebook (FB) has unleashed its Live Audio Rooms and podcasts features. The new Live Audio room offering will allow users to discover, listen, and join live conversations with high-profile personalities and experts. The feature, however, is accessible only to a select few public figures and Facebook groups in the United States. Select podcasts will be available to listeners in the U.S.
Plans are underway to open up Live Audio room to more people and Facebook groups. New add-ons to enhance experiences are also in the pipeline. With the new audio offering, hosts can invite friends and other followers in the room to be speakers. (See Facebook stock chart on TipRanks)
“Live Audio Rooms and podcasts rolling out in the U.S. is just the beginning of our audio journey. Looking ahead, we are working with creators who will use our audio tools to further develop and launch Soundbites or short-form, creative audio clips,” stated Facebook’s press release.
In the groups, administrators can control moderators and group members in the Audio rooms. Hosts in the Audio rooms will also be allowed to select a nonprofit or fundraiser to support their conversations. Listeners and speakers will be able to donate to the cause.
KeyBanc analyst Justin Patterson has reiterated a Buy rating on the stock, impressed by Facebook’s prospects on ad revenue generation. The analyst is especially impressed by the unveiling of ads on the Oculus headset and Instagram Reels.
Consensus among analysts is a Strong Buy based on 29 Buys, 4 Holds, and 1 Sell. The average Facebook analyst price target of $386.2 implies 16.2% upside potential to current levels.
FB scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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