Most popular video game streaming platform Twitch still not profitable

During the most recent live stream, Twitch CEO Dan Clancy who recently took over the position revealed that the streaming platform is sadly still not profitable.

The Amazon-owned streaming platform is widely regarded as the biggest streaming platform worldwide, however, the company has been struggling to maintain profitability for the last few years.

Twitch hit with more lay-offs

A few days back, Twitch saw a massive lay-off where 500 employees were let go. The live stream by Clancy was to address any questions and concerns regarding the ongoing situation. Furthermore, news regarding more lay-offs has users worried.

Some employees were not happy to receive the news regarding layoffs from outside sources. Clancy himself expressed his disappointment with the leak as the plan was to inform the employees first.

“As with many other companies in the tech space, we are now sizing our organization based upon the current scale of our business and conservative prediction of how we expect to grow in the future,” Clancy said. Live-streaming in the last few years has gained a lot of traction. During the pandemic, many people started live-streaming, be it gaming or any other activity.

It seems, however, that the streaming website will remain active. Responding to a user, Clancy revealed that Amazon currently does not have any plans to shut down Twitch operations. The lay-offs were to ensure they reach profitability and stay relevant in the coming years.

Amazon is also pushing towards the video game sector and as per Clancy, the company has been investing heavily. The end goal, however, is to reach profitability. This is likely to ensure they will be able to compete with other platforms like YouTube, Kick and Rumble.