Twitch to Cease Operations in Korea by February 2024 – In a recent update on the company’s Korean operations, Twitch CEO Dan Clancy has announced the challenging choice to shut down the popular streaming platform in Korea by February 27, 2024, KST.
This move comes as a result of Twitch grappling with prohibitively expensive operational costs, despite attempts to save on expenses, such as experimenting with a peer-to-peer approach and limiting source quality to 720p.
Twitch to Cease Operations in Korea by February 2024
Reports indicate that network fees in Korea are ten times higher than in most other countries, rendering it financially unviable for Twitch to sustain its operations. The platform has been experiencing financial losses in the Korean market, leading to the inevitable decision to cease business operations in the country.
Twitch reassures its global audience that this decision is specific to Korea, emphasising the extraordinarily high operational costs that have been widely acknowledged. The company recognises the disappointment this announcement may bring to the loyal Twitch community in Korea, especially affecting streamers who have invested time and effort in building their followers.
Streamers Support From Twitch
In response to the shutdown, Twitch expresses its dedication to affected streamers in finding new platforms for their communities, even if it means transitioning to alternative streaming services. The platform pledges to work closely with these streamers and collaborate with other streaming services in Korea to ensure a smooth transition.
Timeline for Shutdown and Global Impact
For users outside Korea, the timeline for the shutdown is outlined as follows:
- On December 6th, 2023 (KST) or December 5th, 2023 (PT), Twitch announced the cessation of its business operations in Korea effective February 27th, 2024 (KST) or February 26th, 2024 (PT). Starting on that date, streamers residing in Korea will lose the ability to monetize their content, and viewers within Korea won’t be able to make purchases on the platform.
- March 16th, 2024 (KST) or March 15th, 2024 (PT) marks the final payout for streamers who had Korea selected as their country of residence during onboarding.
- On June 4th, 2024 (KST) or June 3rd, 2024 (PT), Affiliates and Partners will undergo off-boarding procedures from Twitch.