Feb 2, 2019

Twitch's success is yet another example of Amazon's dominance

Illustration: Aïda Amer/Axios

It was a bit of a head-scratcher when Amazon announced it was spending nearly $1 billion in cash to buy Twitch, but it turns out that once again the retailer was ahead of the curve, realizing that a lot of people wanted to watch other people play video games.

Why it matters: Twitch is now the most popular streaming platform for gamers, with 15 million daily users watching 2.2 million broadcasters. (80% of them are male.)

  • It has invested in going after highly sought-after gaming events and influencers that have also turned into big money for streamers.
  • It also leverages a Twitch Prime service that gives each person who connects an Amazon Prime account a single subscription to use on any Twitch channel.

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Fear of coronavirus pandemic escalates

Photo: Abdulgani Basheer/AFP/Getty Images

In the blink of an eye, we've entered a new phase on the coronavirus.

The big picture: Italy, Iran and South Korea are at "decisive" points in their responses, the World Health Organization said on Thursday.

Stocks fall 4% as sell-off worsens

A trader on the floor of the New York Stock Exchange. Photo: Johannes Eisele/AFP via Getty Images

Stocks fell more than 4% on Thursday, extending the market’s worst week since the financial crisis in 2008 following a spike in coronavirus cases around the world.

The big picture: All three indices are in correction, down over 10% from recent record-highs, amid a global market rout. It's the S&P 500's quickest decline into correction territory in the index's history, per Deutsche Bank.

Coronavirus updates: California monitors 8,400 potential cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 2 hours ago - Health