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Dolby Atmos Brings Immersive Music Experience With Coldplay

By Zacks Investment ResearchStock MarketsDec 24, 2019 01:29AM ET
Dolby Atmos Brings Immersive Music Experience With Coldplay
By Zacks Investment Research   |  Dec 24, 2019 01:29AM ET
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Dolby Laboratories, Inc. (NYSE:DLB) has released an exclusive portrait film of its Dolby Atmos Music campaign featuring seven-time Grammy winning band, Coldplay. Markedly, Dolby Atmos lets listeners connect with music at its fullest capacity and creative potential.

Music lovers can discover hidden details and subtleties with unparalleled clarity. Dolby Atmos gives music more space and freedom to unleash every detail and emotion as the artist intended. The company is working closely with artists, record labels, streaming services and consumer electronics manufacturers to make Dolby Atmos Music experiences widely accessible.

Dolby’s long-term strategy stands on three pillars — advancing the science of sight and sound, providing creative solutions, and delivering superior experiences. Successful execution in each of these areas has led to decent growth over the past quarters. It had earlier inked strategic alliances with Universal Music Group and Warner Music Group to bring an immersive experience to music fans.

The collaboration strengthened Dolby’s potential to unlock multi-dimensional angles to the soundscapes to enable listeners feel exceptional song clarity and depth. This, in turn, has encouraged music composers and artists to be experimental with instruments and vocals, thereby enriching the recording content. The company has three impressive projects, namely, Dolby Vision, Dolby Voice and Dolby Cinema that are likely to drive growth.

The Dolby Atmos Music campaign has offered millions of people worldwide an intimate look into the creativity of top artists. The films were directed by Toronto-based director Karena Evans. Some of the other artists featured in the campaign include Post Malone, J Balvin and Lizzo. In November, Dolby announced that Warner Music Group will introduce its song collection and various albums with Dolby Atmos Music.

Moreover, Dolby dedicatedly follows a balanced capital deployment strategy and continually rewards its shareholders through share repurchases and dividend increase. In the last reported quarter, the company’s aggregate revenues were $298.8 million, up from $240.6 million reported in the year-ago quarter. The performance was driven by growth in Licensing, and Products and Services segments.

Revenues from Licensing were $264.8 million, up 23.3% year over year, owing to higher revenues from Dolby Vision coupled with higher recoveries in broadcast business. Products and Services revenues came in at $34 million, up 31.5% due to higher sales of new product offerings in the cinema business.

Dolby has a long-term earnings growth expectation of 13%. The stock has added 16.9% compared with the industry’s growth of 43.3% in the past year.

Dolby currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader sector are Sony Corporation (NYSE:SNE) , Qualcomm Incorporated (NASDAQ:QCOM) and Ubiquiti Inc. (NASDAQ:UI) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Sony topped earnings estimates in each of the trailing four quarters, the beat being 86.9%, on average.

Qualcomm has a long-term earnings growth expectation of 14%.

Ubiquiti has a long-term earnings growth expectation of 9.4%.

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QUALCOMM Incorporated (QCOM): Free Stock Analysis Report

Dolby Laboratories (DLB): Free Stock Analysis Report

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Ubiquiti Inc. (UI): Free Stock Analysis Report

Original post

Zacks Investment Research
Dolby Atmos Brings Immersive Music Experience With Coldplay

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Dolby Atmos Brings Immersive Music Experience With Coldplay

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