2024 is not off to an auspicious start for Twitch, the internet’s top livestreaming platform.
Although Twitch remains the most popular destination for online livestreaming, the past year has been fraught with difficulties for the Amazon-owned platform. Following its acquisition nearly a decade ago in 2014, Twitch has struggled to consistently turn a profit, publicly jockeying with streamers and influencers over its cut of advertising revenue last year.
Twitch co-founder and former CEO Emmett Shear stepped down in March 2023, and the platform announced plans to shut down its services in South Korea in December 2023. The company has also undergone a series of layoffs in recent years — including a cut of about 500 workers earlier this week, as reported by Bloomberg. And amid these seismic shifts, rising competitors such as YouTube and the insurgent livestreaming platform Kick are threatening to take a bite out of Twitch’s market share.
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