Twitch is still the biggest name in livestreaming—but signs are emerging that the platform may be entering a turbulent period. According to prominent streamers like Knut and Mizkif, Twitch ad revenue has plummeted, potentially impacting the livelihoods of countless creators who rely on the platform.
Streamers Raise the Red Flag
Knut recently went public with claims that his ad revenue is at an “all-time low”, even creating a graphic to demonstrate the crash. Though he didn’t provide specific numbers, he stated that fellow streamer Mizkif had confirmed experiencing a similar drop. Knut also noted that streaming on Kick—a rising Twitch competitor—has helped offset the revenue loss during this downturn.
Why Ad Revenue Matters
Twitch streamers typically earn income through a combination of ads, subscriptions, and bits. While subscriptions and viewer donations are valuable, ads shown to non-subscribed viewers make up a significant portion of earnings for many mid- to high-tier streamers. When that revenue source shrinks, it can create a ripple effect throughout the platform’s creator economy.
What’s Causing the Drop?
There are several factors that could be contributing to the decline in Twitch ad revenue:
- Fluctuations in digital advertising: Online ads often operate via a bidding system, which means revenue can rise or fall rapidly based on demand.
- Controversy fallout: Twitch faced major backlash in late 2024 after being accused of antisemitism. The platform reportedly lost key advertisers, including Chevron, following the incident.
- Platform changes: Twitch has begun testing picture-in-picture ads, which allow viewers to continue watching a stream while a muted ad plays in a corner. While less intrusive for viewers, this could reduce engagement—and earnings—from advertisers.
Kick Gains Ground as Twitch Fumbles
As Twitch revenue falters, Kick continues to make aggressive moves, offering a 95/5 revenue split in favor of streamers—one of the most generous splits in the industry. However, Kick also adjusts revenue for streamers who simulcast to other platforms, making exclusivity more appealing.
With Twitch’s advertising model under scrutiny and its competitors sweetening the pot, streamers may begin to rethink where they broadcast. If ad earnings continue to nosedive, Twitch could see more creators jumping ship to Kick or YouTube—platforms that promise better payouts and, increasingly, better support.
