“It’s the right medicine at the right time for Amazon and the Street wants to see these moves as Silicon Valley continues to cost cut.What's the difference between trial version and the full version of SpotiKeep Converter? “We believe this is Amazon ripping the band-aid off on more layoffs as the bloated cost structure is front and center for Jassy in this softer macro,” said Daniel Ives, a managing director at Wedbush Securities. In January, Spotify said it was reducing its employee base by 6%, and last week, Meta announced a second round of job cuts, laying off 10,000 staffers and eliminating 5,000 open roles. “Things have been different post-pandemic,” Wang said in a text message.Īn Amazon representative said the reductions would not hit Culver City-based Amazon Studios, the company’s film and television business.Īmazon’s announcement Monday follows layoffs at other tech and media companies. Spotify says it is cutting staff as it focuses on improving efficiency in a challenging economic environment, according to CEO Daniel Ek. Now, there’s a challenge in trying to keep those audiences engaged.Ĭompany Town Spotify reduces staff by 6%, Chief Content Officer Dawn Ostroff to leave It’s an area that other media companies have also had to grapple with, where there was a surge of viewership during the early days of the COVID-19 pandemic as people stayed home and looked to entertain themselves. “They over-invested in Twitch, but the growth has not caught up,” Wang said. Viewership declined 6% in 2022 compared with 2021, Wang said. Today Twitch has about 2.58 million concurrent viewers, and there have been challenges regarding its growth, according to Ray Wang, a principal analyst at Palo Alto-based Constellation Research. Inside the library of a Hollywood Hills home, actress Tiffany Chu gazed expectantly at the camera, waiting for guidance from the audience.Īmazon bought Twitch in 2014 for $970 million as a way for the company to expand its footprint in gaming and cultivate a relationship with the platform’s more than 1 million broadcasters, which included gamers, esports organizations, publishers and other creators at the time. Company Town Twitch explores content outside of gaming, including a scripted show - with an interactive twist
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