Tesla Elon Musk, the CEO, is about to reveal his newest project, X TV, a television app that will compete with YouTube’s hegemony on Amazon and Samsung smart televisions.
Musk hinted at the impending debut in a tweet that was posted on platform X, using the straightforward but alluring phrase “Coming Soon.” This information represents a major turning point in Musk’s entry into the digital entertainment market.
Information obtained by Fortune from a person connected to X indicates that the future app’s user experience is very similar to Google’s YouTube TV app.
Musk, who is well-known for his audacious business endeavors, seems ready to challenge YouTube’s hegemony in the video streaming market.
Since Musk acquired it in 2022, X has faced difficulties holding onto advertisers due to issues.
In a related development, Musk hinted that X would soon receive approval to apply for a New York money transmitter license.
Additionally, he stated that X might obtain a license in California within the next month or two, but that receiving clearance in New York might take “a few months away.”
In 2023, YouTube was the most watched streaming site, which is something to note. Musk, meanwhile, doesn’t seem to be deterred; in October of last year, he made the X app’s beta version available to a limited number of people.
His larger goal is to turn the software into a feature-rich “super app,” and this trial version had both video and audio calling capabilities.
Wrap Up
The company is attempting to enter the competitive streaming video market with the release of its TV app. Although it’s difficult to compete with Google-owned YouTube, X could be able to catch up if it can entice producers with large sums of money.
The super app will also have a number of services like online payment and texting, giving customers a one-stop shop for all of their digital need.
