Amazon's Twitch fails to meet ad revenue goals: Report
The live streaming service was set to bring in $300M in 2019 -- short of the expectation to bring in $500-$600M
2020 could be a record year for the gaming world with plenty of new releases from top studios.
Amazon’s live video streaming service Twitch has failed to meet ad revenue expectations, according to a new report.
By mid-2019, Twitch was set to bring in $300 million by the end of the year, The Information reported Wednesday. But that was short of Twitch's goal to earn $500 and $600 million, according to the website citing anonymous sources.
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Amazon bought Twitch in 2014 for $970 million, according to Forbes. And the ultimate goal for Twitch was to eventually bring in $1 billion, according to The Information.
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Amazon did not immediately respond to FOXBusiness’s request for comment at the time of publication.
Meanwhile, YouTube, which is owned by Google, reportedly brings in billions of dollars every year just from ad revenue.
TWITCH DOMINATES YOUTUBE, FACEBOOK AS TOP STREAMING PLATFORM
Despite its reported inability to meet ad revenue expectations, Twitch is still the leader of streaming services, according to StreamElements.
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Last year, Twitch had 73 percent of the market share by hours watched, according to the company, followed by YouTube Gaming with 21 percent and Facebook Gaming and Mixer both with 3 percent. Twitch’s numbers were down, however, from 75 percent in 2018.