Twitch shutdown in South Korea

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Twitch, the popular video streaming service owned by Amazon, has announced that it will shut down its operations in South Korea on February 27, 2024. The decision was made due to the prohibitively high cost of operating in the country. Twitch CEO Dan Clancy explained that the network fees in South Korea are 10 times more expensive than in most other countries, despite significant efforts to reduce these costs. The company experimented with a peer-to-peer model for source quality and adjusted the source quality to a maximum of 720p, but these measures were not enough to make the business sustainable in South Korea. Twitch has been operating at a significant loss in South Korea, and there was no viable pathway forward for the business to run more sustainably in the country. The decision to cease operations in South Korea is described as a "unique situation". Twitch plans to help its streamers in South Korea move their communities to alternative livestreaming services in the country. The company is reaching out to several of these services to assist with the transition and will communicate with impacted streamers as those discussions progress. South Korea is a significant market for esports, and the closure of Twitch in the country is likely to have a major impact on the esports market. Major publishers such as Riot will need to shift operations quickly and rebuild their platforms elsewhere.
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