Google recently announced Chromecast, a $35 device that shakes up mobile TV—and TV in general. Will Google finally own the living room?

Google's tried (and failed) to conquer the living room with Google TV. In contrast, Chromecast has been so popular that within hours of its release Google had to cancel the free Netflix bonus that came with the purchase of the Chromecast device.

What marketers need to know...

The dongle-like device plugs into a TV's HDMI port, pushing content from any mobile device, while also turning it into a remote.

It's Google's direct blow to AppleTV and Airplay, as well as others, including Roku's Streaming Stick and Plair. The main difference? Those are $99.

Chromecast streams from its own Wi-Fi source—so it offers better streaming, at full resolution. So far, Netflix, Pandora, YouTube, Google Play content, and any open Chrome Tab can be broadcast to TV with the "cast button."

For advertisers, Chromecast is a huge opportunity to bring targeted ads to the big screen. Be ready for the YouTube ad market to boom, as this new hardware allows high-quality videos that speak directly to users.

For developers, the Cast SDK is now open to explore entertainment app ideas.

If Google's trying to edge out cable, we've seen it put the mobile screen first. For more on mobile TV, check out this week's video.