Stream Hatchet: Streaming Market Trends in Q1’24
Steam is the growing streaming platform. You know that?
Stream Hatchet tracks all streaming platforms in the market.
After a two-year decline, the number of viewing hours in Q1’24 increased by 10% compared to Q1’23, totaling 8.2 billion hours. This figure is 128% higher than in Q1’19 and 61% higher than in Q1’20.
Twitch remains the market leader, capturing 69% of the total viewing volume. YouTube Gaming follows with 16.5% of all hours. Kick, in its first year in the market, secured the third position with 4.4% market share; the platform is popular among gambling streamers. AfreecaTV (3.5% market share) ranks fourth, and Steam (1.8%) fifth.
In Q1’24, Twitch accumulated 5.7 billion hours, up by 3% from Q1’23. YouTube Gaming grew by 19% YoY, reaching 1.4 billion hours. Interestingly, Steam emerged as the fastest-growing streaming platform (+109% YoY). VK also showed growth at 17%, albeit on a smaller scale (136 thousand viewing hours).
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❗️It seems that Twitch growth almost stopped, while YouTube Gaming continues to actively attract/re-engage the audience.
Counter-Strike 2 (13.7 million hours), Enshrouded (9.4 million hours), and Dragon’s Dogma II (4.9 million hours) were the most-watched games on Steam.
39.1% of all Steam views in Q1’24 were from new games. Twitch had only 7% from new games, and YouTube Gaming had 4.3%. Streaming new games on Steam appears to be an effective strategy.
CHZZK and AfreecaTV confidently took the lead over Twitch in South Korea. The latter announced its exit from the market due to high operating costs. It turned out that the average views of the top 7 South Korean streamers on CHZZK are higher than on Twitch.
❗️It seems that CHZZK took the majority of the Twitch audience. AfreecaTV hasn’t benefitted that much. Curious to find reasons.
Grand Theft Auto V (590 million hours), League of Legends (526 million hours), and Counter-Strike 2 (299 million hours, +72% QoQ) were the most-viewed games in the first quarter. Seven out of ten games in the top 10 saw growth in views, with an average increase of +31%.
Palworld was the most-viewed newcomer in Q1’24, garnering over 95 million viewing hours in its first month.
FPS (1.3 billion hours, +25% QoQ), action-adventures (1.1 billion hours, +7% QoQ), and MOBA (889 million hours, +3% QoQ) were the most popular genres in the first quarter.
