Streaming production and monetisation platform StreamElements is restructuring its workforce, with 20% of its staff reportedly impacted, sources have informed Esports Insider.
The exact number of laid off staff could not be confirmed. StreamElements currently has 279 employees according to the company’s LinkedIn profile.
A StreamElements spokesperson told Esports Insider: “In light of the current market conditions, we’ve adjusted our plans to drive creator growth while building a path to profitability.”
With over 1.6m creators — including esports organisations and professional players — using the platform, StreamElements has massive reach across Twitch, YouTube, Facebook Gaming and Trovo. The company claims that over 60% of top content creators use its tools.
It uses that reach to connect major brands including Epic Games, the NBA, HBO, and Spotify to creators to build out advertising campaigns.
Despite the lay-offs and personnel changes, StreamElements claimed the move would improve its ability to offer sponsorship opportunities. “As a creator-first company, the impact [of this move] is that we will be able to offer more sponsorship opportunities to our community since that is the thriving part of our business we are doubling down on,” the spokesperson said.