The South Korean game livestreaming market is in a state of flux since Twitch’s departure in February 2024. In this vacuum, local platforms SOOP, operated by AfreecaTV, and Naver’s CHZZK have emerged as frontrunners, each with their unique offerings and vying to be a Twitch alternative in South Korea and capture the former’s audience and broadcasters.
Despite the overall drop in viewership across all gaming streaming sites in South Korea by 18% from January to March 2024, SOOP has demonstrated remarkable resilience. It experienced a growth of 6.6% in viewership hours compared to the previous quarter, standing strong amidst the industry shake-up. This is a testament to the platform’s potential and its ability to adapt to changing circumstances, instilling confidence in its future.
Per this report, CHZZK’s performance during the same period was nothing short of remarkable as well . According to StreamElements and its data partner Streams Charts, CHZZK’s total hours watched more than doubled from January to March. Furthermore, the number of active channels on CHZZK increased eightfold, signaling a swift and enthusiastic adoption by the streaming community. This exponential growth and acceptance hint at the platform’s promising future.
CHZZK’s surge comes at a strategic time as well as a Twitch alternative player, as the platform had just launched its open beta on December 19, 2023. This well-timed move allowed CHZZK to seize a substantial portion of the market previously dominated by Twitch, providing a new platform for displaced streamers and their followers.
Or Perry, co-founder of StreamElements, commented on the shift, saying, “This past year, the discourse on live streaming platforms has been rooted in Twitch, YouTube, and Kick as content creators weigh options for reaching the broadest audience. In South Korea, AfreecaTV’s SOOP and Naver’s CHZZK are two other players who might join the conversation.” He added that both platforms are planning global launches with English-language support in 2024, which could further expand their reach.
The potential global expansion of SOOP and CHZZK as possible gaming streaming platforms is part of a broader trend in which South Korean digital content, like K-pop and K-dramas, begins to impact global markets significantly. This expansion offers content creators more options and holds the potential to reshape the global landscape of live streaming games and be part of the growing gaming influencers today – painting an optimistic future for the industry.