Facebook Aborts Game Streaming App After Losing To Amazon's Twitch

  • Meta Platforms Inc META Facebook plans to close down its Facebook Gaming app, CNBC reports.
  • Facebook Gaming app lets users watch and play video games on-demand.
  • Starting October 28, Facebook Gaming will no longer be available on Apple Inc AAPL iOS and Android, while gaming features will remain accessible via the main Facebook app.
  • Also Read: Meta Loses Key Metaverse Official Shortly After Criticism Over Chief Mark Zuckerberg’s Avatar
  • Facebook launched the Gaming app more than two years ago as the pandemic triggered a videogame boom.
  • Facebook battled hurdles trying to launch the app, as Apple rejected it numerous times, forcing it to remove actual gameplay functionality from the app, TechCrunch reports.
  • However, Facebook struggled to gain a foothold in the live game streaming market. 
  • According to Streamlabs, in the second quarter of 2022, Facebook Gaming accounted for only 7.9% of the market share for the number of hours watched, behind Amazon.com Inc AMZN Twitch (76.7%) and Alphabet Inc GOOG GOOGL YouTube (15.4%).
  • Most recently, Facebook shut down its live shopping feature on October 1 to shift its focus to Reels. 
  • Meta tested a new live-streaming platform for influencers called “Super.” 
  • Price Action: META shares traded lower by 1.24% at $157.20 on the last check Tuesday.
  • Photo by Marco Verch via Flickr
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