Amazon Buys Streaming Site Twitch for Nearly $1B

amazonRetail giant, Amazon, has finalized its plans of buying video streaming site Twitch for an all-cash deal that amounts to $970 million.

Sorry, YouTube

Twitch CEO Emmett Shear welcomed the deal with Amazon and said, “Being part of Amazon will let us do even more for our community. We will be able to provide tools and services faster than we could have independently.”

The story comes after previous reports indicated that Google’s YouTube has been negotiating an acquisition deal with Twitch. Earlier stories noted that YouTube has offered over $1 billion to buy the portal.

Twitch is an independent video streaming site dedicated to hosting broadcasts of video gameplay. Since its inception in 2011, the site has grown into a massive portal the gaming community holds dear. The site claims to have over 55 million active visitors each month.

The rise of gaming?

Experts suggest that this recent acquisition marks the rise of gaming, particularly the increase in its spectator base. Advertisers in the gaming industry have also grown in number, especially now that competitive tournaments are seen as live sporting events.

In July, Twitch streamed the biggest e-sports competition to date alongside sports channel ESPN. The competition, Dota 2 The International 4, had millions of viewers and a crowd funded prize pool of $10.9 million.