tl;dr
Amazon's streaming unit Twitch has announced that it will be shutting down its business operations in South Korea due to high operating costs and network fees. According to Twitch CEO Dan Clancy, the cost of operating the service in Korea is prohibitively expensive. Despite efforts to reduce costs, ...
Amazon's streaming unit Twitch has announced that it will be shutting down its business operations in South Korea due to high operating costs and network fees. According to Twitch CEO Dan Clancy, the cost of operating the service in Korea is prohibitively expensive. Despite efforts to reduce costs, network fees in Korea are still 10 times more expensive than in most other countries, leading to significant losses for the company. Consequently, Twitch has determined that there is no sustainable pathway forward for its business in Korea and will be assisting streamers in the country in transitioning to alternative livestreaming services. The announcement has caused South Korean streaming company AfreecaTV's stock to rise about 30% on the KOSDAQ on the Korea Exchange. The decision to shutter operations in South Korea comes after Twitch laid off over 400 employees in March due to underwhelming user and revenue growth. Additionally, a debate over who should bear the costs of increased internet traffic has resulted in clashes between technology companies and local internet providers in South Korea. However, recent collaboration between Netflix and SK Broadband indicates progress toward resolving these disputes with a new strategic partnership.
More about Amazon.com Inc
Amazon.com Inc. is a prominent player in the retail-catalog and mail-order houses industry, with a market capitalization of $1.5 trillion. The stock has shown strong performance, with a current price of $173.56 and a year-to-date increase of 1.91%. Market sentiment appears bullish, with a Relative Strength Index (RSI) of 53.95 indicating potential upward momentum. However, the stock is currently trading above its 50-day moving average, suggesting potential overbought conditions. Investors should closely monitor support and resistance levels, as well as potential breakouts or reversals. While Amazon's influence and brand value are undeniable, past performance is not always indicative of future results, and there are inherent risks associated with investing in the stock market.
More about SK Telecom Co Ltd ADR
SK Telecom Co Ltd ADR is a telecommunications company providing wireless services in South Korea and internationally. The company's market capitalization is $44.56 billion, with a stock price of $10.46 and a P/E ratio of 2.07. The company's total revenue is $17.48 trillion, with a net income margin of 29.6% and a return on equity of 0.27%. The stock performance has been relatively stable, with a bullish trend in the short term, but the market sentiment is uncertain due to potential regulatory changes and competition in the telecommunications industry.
More about Netflix Inc
Netflix Inc is a leading over-the-top content platform and production company, offering a subscription-based streaming service for films and television series. With a market capitalization of $198.66 billion and a stock price of $465.08, the company has shown a strong performance in the market. The stock has a 52-week low of $45.25 and a high of $73.75, indicating a significant growth potential. The Relative Strength Index (RSI) of 0.203 suggests a bullish trend, supported by a positive momentum in the market sentiment. However, with a Bollinger Bands indicator of 0.078, there is a possibility of volatility and potential risks in the near future. It is important to consider these factors when making investment decisions, as past performance does not guarantee future results.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.