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- Amazon paid about $1 billion for Twitch in 2014, hoping it would become the next YouTube or Instagram.
- That hasn't panned out. It loses money on very modest (by Amazon's standards) revenue.
- Does that mean Twitch screwed up? Or that livestreaming is less big than people thought it was going to be? Could be both.
Amazon bought Twitch, the livestreaming platform, 10 years ago, with the hopes it would be buying the next YouTube or Instagram — an up-and-coming media app that would explode in popularity and profit when hooked to a Big Tech platform.