1/4📊Per @streamlabs, $FB Gaming shows sustained growth in hrs watched while $GOOGL's YT Gaming falling off in 2021. All 3 services have been on the rise with the pandemic, with $AMZN's Twitch as the clear leader.

Over 8Q, increases of 380%, 56% & 107%.
blog.streamlabs.com/streamlabs-and… 2/4 Over the past 8 quarters, Twitch increased it's avg concurrent viewer (CCV) count by 107% while $FB Gaming increased 380%.

Quarterly hours watched per CCV about stable, but FBG users apparently watch over 5 times longer. Respectively ~14h and... ~73h per day, methodology?🤔

$FB's case in📊1/:

#Facebook is the core #moat to $FB with arguably the largest (2.9B MAU) and strongest (fundamentally interpersonal SM) network effect on the market. Displacing the #1 keep-in-touch SM'll be tough, competes w/ email and phone, but enables blitz-scaled bolt-ons. 🌏2/ While #Facebook has seemingly saturated the market in NA (at ~53% of MAU/pop) and EU (~47%), bulk of user growth is in AP-RoW, long runway from current ~28% penetration (some more incl. #WhatsApp).
Using DAU/MAU as proxy for engagement we see the stickiness of FB-Messenger.