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Twitch Makes Cuts
Twitch's surprising layoffs, X's new monetization promises, and more.
Kristin Kennihan
January 16, 2024
Happy Tuesday! Thanks for joining us this week! Let’s jump right in.
In this edition, we’ll cover the sudden Twitch layoffs, update you on X’s new monetization promises, and begin our search to find the perfect social media management platform. Also - we start our series to help creators make more money, and wrap it up with our Creator of the Week.
Without further ado…
Twitch CEO Dan Clancy has announced the layoff of over 500 employees, approximately 35% of the platform's workforce. This decision follows previous layoffs in March 2023, where 400 roles were cut as part of broader layoffs at their parent company, Amazon. Clancy noted that these cuts were crucial to maintaining the profitability of the company.
Twitch paid over $1 billion to streamers in the previous year. These layoffs coincide with workforce reductions in other Amazon divisions, including Prime Video and MGM Studios.
With all these recent changes, do you think Twitch is a sinking ship just trying to stay afloat, or will this new round of layoffs help them course correctly and get back to profitability?
 X is coming after YouTube, TikTok, Facebook, and just about any other platform you can think of. Users can now upload videos up to 2 hours long, find smaller creators’ accounts on the For You page, and that’s just the tip of the iceberg. X is striving to become a “super app” where you can listen to podcasts, shop, and keep up with your friends all in one place. |  Update: Last week we reported that MrBeast stated he wouldn’t be posting his content to X due to compensation reasons. This week, Elon Musk announced that creator monetization will increase significantly. Coincidence? We don’t think so. Musk has been making some pretty big promises lately, do you think he’ll follow through? |
Over the next couple of weeks, we’re exploring the different social media management platforms to find the best one. We’re comparing Hootsuite, Loomly, and in-app scheduling services to get you the most bang for your buck.
This week we’re exploring Hootsuite.
Here’s what they offer:
Keep in mind the team plan features include all of the professional services as well. Hootsuite also offers an enterprise plan for up to 50 accounts and 5 total users, for larger-scale clients.
Next week we’ll explore the features of Loomly, a slightly more affordable social media management tool, and then they’ll go head-to-head. Stay tuned!
How do you feel about a hands-off approach when it comes to your social media posts?
Want to know how to make bank as a creator? Here are the top three platforms for creator pay-outs:
 YouTube has set the standard for creator payouts for a while now. To get monetized on YouTube you have to be part of the YouTube Partner program. To qualify, you need a minimum of 1,000 subscribers and your videos need to have been watched over 4,000 hours in the past year. Once you become a YouTube partner you’ll receive about $18 per 1,000 ad views! |  Snapchat pays out over one million dollars a day for content created on Spotlight. Anyone can make money on Spotlight, but payout ranges depending on how many views the videos get. On top of that, users who are “Snap Stars” or verified on Snapchat receive money off of the ads that play in between their Snap stories. A lot of creators say Snapchat is the best way for creators to make extra money. |
TikTok recently switched to the TikTok Creativity Fund, encouraging users to make long-form videos. To qualify, you need over 10,000 followers and at least 100,000 views in the past 30 days. Once those requirements are met you’ll receive between $0.50 and $1 per 1,000 views, as long as the video is over 1-minute long. That’s $1,000 per one million views!
These platforms really know how to treat their creators, but others aren’t nearly as giving. What platforms would you like to see compensating their creators more?
CC Suarez Click above for CC’s socials. | CC Suarez is a top-tier creator who has been a consistent YouTuber for years now. CC creates captivating videos exposing scam artists and multi-level marketing schemes, a niche in which she thrives in. Her skyrocketing views are a testament to her remarkable success. Suarez's rise to the top can be attributed to a few key factors: her ability to discover a unique niche to grow in, her commitment to producing high-quality, long-form videos, and her consistent presence across multiple platforms. She’s truly a powerhouse in the creator industry. |
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