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Facebook Inc. (NASDAQ:FB) recently launched two tools for video creators — Sound Collection and the 360 Community Page.
Per a blog post by the company, the video editing tool Sound Collection offers users a number of free high-quality audio tracks and sound effects for creating videos and sharing them on Facebook and Instagram.
Facebook intends to expand the collection by adding new tracks and sound effects. It is also set to launch discovery tools that will enable users to know about various artists, follow them and browse the best-suited sounds for their videos by genre, mood, length and vocals.
Facebook also launched a new 360 community page by partnering with Blend Media that offers tools for making 360 degree videos. The page covers tutorials on everything related to 360 video productions. The company claims to have shared over a million 360 videos on the platform since the launch of the feature in 2015.
Facebook also introduced its new Camera Loaner Program, by which users will be able to borrow cameras directly from Blend Media. The company will initially be lending the GoPro Fusion and ZCam S1 but eventually more cameras will be offered.
A page for editing videos called 360 Director has also been launched for both Pages and profiles.
We believe Facebook’s video efforts will continue to pay off big time.
Notably, Facebook has gained 55.6% year to date, substantially outperforming the industry’s 24.5% rally.
Zacks Rank & Key Picks
Facebook carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the broader technology sector include IPG Photonics Corporation (NASDAQ:IPGP) , NetApp Inc. (NASDAQ:NTAP) and NVIDIA Corporation (NASDAQ:NVDA) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Long-term earnings growth rate for IPG Photonics, NetApp and NVIDIA is projected to be 19.7%, 11.3% and 10.3%, respectively.
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