The most important thing to do in times of isolation is to still have some kind of connection. People are searching out their friends and family through video chat to check in and push towards having connections. Whether it’s FaceTime, Skype, Zoom, or another one of the hundreds of different video calling platforms, everyone seems to have a personal favorite. Video chatting is now becoming an essential part of society. And because of this, the video conferencing market is seeing an increase in consumption.
One cause pushing this increase in certain companies’ stocks is the increase in acceptance and use of Artificial Intelligence and advanced technology. This acceptance from more people is leading to a larger consumer pool. Another factor is that we are seeing the companies with more optimized costs But a large portion of it in the last month is due to the many quarantine orders around the world. This way of communicating is becoming the normal way of life.
What is interesting though is that only certain companies' stock markets are rising, while others are falling with the rest of the world.
In the U.S., there is an increase in using the application Zoom. Especially within college courses, Zoom has become a particular favorite among many people. For classes, friends, family, and work, Zoom has become a leader in the Market. While other companies are falling, Zoom’s stock has risen by 20% in the past month. It is beating out competition like Skype and is the second most downloaded app only behind TikTok. It is also available and used in almost every country except for a short list (including Iran, Iraq, Venezuela, and North Korea).
A different company that is rising quickly now is the app Houseparty. While Zoom is the top video app in the app store in the U.S., Houseparty is the top video app in the UK app store. It is the 14th most downloaded app on the free app store. Houseparty is an app where you can call and be in a “house” with your friends and play games resembling Apples to Apples and Pictionary. While Zoom is used in both professional and social settings in the U.S., Houseparty is mainly used as a social setting.
A big similarity between both of these apps is that they are both beating out Skype, which was one of the biggest video chatting apps throughout the 2010s. Microsoft has mentioned many times that they are focusing on building up Microsoft Teams and to do this, ignoring Skype. Many have complained about the quality that Skype has in comparison to Zoom and Houseparty. Due to this, Skype is losing businesses during a time that they could be growing. But, they still are retaining 40 million users every day.
Overall, there are many companies, large and small, that are providing ways to connect with other people. Find the right one and use it to check in on those important to you. Each company has positives and negatives as the stock market continues to shakily change.