Despite Twitch’s continued dominance in the streaming world, rival platforms Kick and YouTube have experienced significant growth in 2024. However, sites owned by Amazon have seen a decline.
Despite being the dominant platform for streaming for several years, Twitch’s viewership lead is gradually diminishing as its competitors catch up. While it remains in first place, its once overwhelming lead is gradually eroding.
Based on a recent report by Stream Hatchet, Twitch experienced a significant decline in market share for hours watched among the top five platforms, dropping by 10% from Q2 2023 to Q2 2024.
The site experienced a significant decrease, dropping from 70% to 60% of the total hours watched in the streaming market.
Despite the fact that the total number of hours watched remains at 5.1B, YouTube and Kick are gradually closing the gap. YouTube’s market share has increased from 17% to 23.4%, while Kick firmly holds onto third place with 5.5%.
The South Korean streaming platforms AfreecaTV and Chzzk hold the 4th and 5th positions in the top rankings, with 3.4% and 2.1% shares, respectively.
Despite the challenges, Kick experienced significant growth. Stream Hatchet’s data showed a notable 163% increase compared to the previous year, largely attributed to popular streamers such as xQc who dedicated a majority of their streaming time to the platform.
Despite being acquired by Amazon ten years ago, Twitch has been experiencing a decline in viewership and has lost billions of dollars.
Based on a report from The Wall Street Journal, there are concerns among employees that the struggling site may have to endure another round of layoffs, despite having already fired one-third of its workforce at the beginning of 2024.
According to insiders, the site is at risk of becoming a “zombie”brand for Amazon, with comparisons being drawn to other businesses such as book review app Goodreads and online discount store Woot.
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