South Korean live streaming platforms want to compete with Twitch on a global level

The live streaming market may have stagnated in its growth, which was astronomical in recent years, but competition between platforms remains strong and in addition to Twich, Kick and YouTube, now two South Korean platforms are preparing to enter the global dispute.

Twitch leaves South Korea

With the live streaming market counting its coins to remain in activity without losses, Twitch then decided to officially leave South Korea due to the high costs of maintaining its operation in the country.

And with this departure, other streaming platforms grew and took over the space left by Twitch, the main ones being: AfreecaTV and CHZZK.

According to data presented by StreamElements in partnership with StreamsCharts, while AfreecaTV maintained its numbers very similar in the first three months of the year, CHZZK observed a 7-fold growth in its number of active channels, comparing January’s numbers with those of March 2024.

There was also growth in CHZZK’s total hours watched, from 25 million in January to 59 million in March.

Global live streaming market

While on a global level, the live streaming market is dominated by Twitch, YouTube and Kick, other platforms are gaining ground, such as Rumble and NimoTV, the latter with a strong presence in East Asia.

Now, the giant Naver, known as the “Google of South Korea”, promises to launch CHZZK worldwide in 2024. AfreecaTV will reformulate its platform for the global launch, calling it SOOP.

Despite the information released in the State of Streaming report on the StreamElements website, there is still no scheduled date for the two platforms to debut on the global live streaming market.

Competition promises to shake up the market and be something positive for streamers. Let’s see how platforms already established globally will react with the arrival of SOOP and CHZZK.