The live streaming landscape shifted dramatically between 2023 and 2025. Twitch — once the undisputed king — is bleeding market share, revenue, and streamers. Meanwhile Chzzk, Naver's streaming platform, went from a beta launch in December 2023 to becoming the dominant home of Korean streaming in under two years.
Here's what the data actually shows — and what it means if you're trying to watch or save streams from either platform.
Twitch: The Slow Bleed
Twitch's peak was 2022. Since then, almost every major metric has moved in the wrong direction.
Revenue is falling. Twitch generated $2.8 billion in 2022. By 2024, that had dropped to $1.8 billion — a 36% decline in two years. Year-over-year, 2024 revenue was down 8.1% from 2023 alone.
Watch time is declining. Viewers watched 20.8 billion hours on Twitch in 2024 — a 2.8% drop from 2023. In Q2 2024, the platform saw an 11.8% drop in hours watched compared to the previous quarter.
Market share is shrinking fast. In Q2 2023, Twitch held 70% of the live streaming market by hours watched. By Q2 2024, that had fallen to 60% — a 10-point drop in a single year, according to Stream Hatchet. YouTube Gaming climbed from 17% to 23.4% in the same period, and Kick reached 5.5% with 163% year-over-year growth.
Active streamers are down. The platform had 9.89 million active streamers in January 2021. By October 2024, that number had fallen to 6.91 million.
The Korea exit was a turning point. In December 2023, Twitch announced it would shut down operations in South Korea, citing network fees it described as "prohibitively expensive." On February 27, 2024, Twitch officially went dark in Korea. Millions of Korean viewers and hundreds of streamers had to find a new home overnight.
Chzzk: From Zero to Rival in Months
Chzzk launched its beta on December 19, 2023 — the same month Twitch announced its Korean exit. The timing could not have been better.
Growth was immediate and explosive. In its second full week of tracked data, Chzzk's viewership grew 79% week-over-week and it became the 6th most-watched streaming platform globally, with 13.1 million hours watched. Unique channels rose by over 200% in the same period.
Streamers performed better on Chzzk than they did on Twitch. According to Stream Hatchet, ex-Twitch streamers who moved to Chzzk actually saw higher average minute audience (AMA) numbers on Chzzk than they had on Twitch — a remarkable outcome for a brand new platform.
Chzzk closed the gap with AfreecaTV (now SOOP) at record speed. AfreecaTV had been the dominant Korean streaming platform since 1996. Chzzk nearly matched it in audience within months of launch. By Q2 2024, Chzzk had grown 39% quarter-over-quarter, while AfreecaTV grew less than 5%.
The LoL Worlds moment. On November 2, 2024, during the League of Legends World Championship Grand Finals, Chzzk hit a platform record of 445,200 peak concurrent viewers — a 37% jump over its previous record set just weeks earlier.
By Q4 2025, Chzzk had its strongest quarter ever across both hours watched and peak viewers. It now accounts for 39% of all Korean streaming hours — up from just 33% in Q2 2024, according to Stream Hatchet.
LCK followed. In 2025, Chzzk secured exclusive LCK broadcasting rights and naming rights for the LCK arena in Jongno, Seoul. CHZZK now accounts for roughly 12.3% of total hours watched for LCK Season 2025, ranking third globally behind YouTube and Twitch for that content.
What This Means for Viewers
The streaming map has fundamentally changed:
- If you followed Korean streamers on Twitch, they've moved — most to Chzzk, some to SOOP
- Chzzk has geo-restrictions and requires a Korean phone number to register
- SOOP (formerly AfreecaTV) carries legacy streamers and StarCraft content
- VODs on both platforms can disappear without warning — deletions, platform policy changes, or account issues
This is exactly the problem Vodloader solves.
Download Twitch and Chzzk VODs with Vodloader
Vodloader supports both platforms — so wherever your favorite streamer ended up, you can save their content.
For Chzzk: Paste the VOD URL directly into Vodloader. No Korean account needed. Download full matches, full streams, or clip specific segments.
For Twitch: Same workflow. Works for VODs, highlights, and past broadcasts.
Whether it's a T1 match on Chzzk, a legacy StarCraft streamer on SOOP, or an international creator on Twitch — Vodloader gives you a permanent local copy, no matter what the platform decides to do with it later.
The streaming wars are far from over. But your saved VODs don't have to be casualties.