MeetMe Expands Relationship with Beanstock Media to Manage Mobile Ad Inventory
December 29 2014 - 9:00AM
Business Wire
Provides Fiscal 2015 Annual Total Revenue
and EBITDA Guidance
MeetMe, Inc. (NASDAQ: MEET), the public market leader for social
discovery, today announced an expansion of its ad management
relationship with Beanstock Media, the world’s first premium
Publisher Trading Desk, to begin delivering its mobile advertising
inventory to Beanstock at guaranteed CPMs. Under the agreement
MeetMe will begin placing ad calls with Beanstock Media on March 1,
2015 and will do so for the remainder of the year. This new
agreement will take the place of the company’s current ad
management agreement with Pinsight Media+, which expires on
December 31, 2014 and has a 60-day transition period.
Bill Alena, Chief Revenue Officer of MeetMe, said, “Beanstock
Media has proven to be a trusted and reliable partner since we
began working with them in October 2013 to optimize revenue from
our global web-based remnant ad inventory, and we are excited to
expand our relationship to mobile. With this agreement, we expect
to have continued strong visibility into revenue and smoothed
quarterly seasonality in advertising rates. In 2015, we will
continue our focus on driving high usage and engagement as we seek
to build the pre-eminent mobile chat app for connecting with new
people.”
David Clark, Chief Financial Officer of MeetMe said, “Our mobile
daily active users (DAU) in 2014 have increased 20 percent, from
approximately 770,000 in the first quarter to approximately 920,000
in the fourth quarter to date. During the same period, chat grew
more than 100 percent, and mobile visits per DAU increased more
than 15%. MeetMe mobile has grown significantly in both users and
in engagement per user in 2014. This growth in usage has
contributed to the continued growth in mobile revenue we have
delivered throughout this year. In 2015, we project annual revenue
to grow to between $47 million and $53 million for the year. We
also project annual adjusted EBITDA to grow to between $7 million
and $10 million in 2015.”
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in
the US and the public market leader for social discovery (NASDAQ:
MEET). MeetMe makes it easy to discover new people to chat with on
mobile devices. With approximately 80 percent of traffic coming
from mobile and more than one million total daily active users,
MeetMe is fast becoming the social gathering place for the mobile
generation. MeetMe is a leader in mobile monetization with a
diverse revenue model comprising advertising, native advertising,
virtual currency, and subscription. MeetMe apps are available on
iPhone, iPad, and Android in multiple languages, including English,
Spanish, Portuguese, French, Italian, German, Chinese (Traditional
and Simplified), Russian, Japanese, Dutch, Turkish and Korean. For
more information, please visit meetmecorp.com.
Cautionary Note Concerning Forward-Looking Statements
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including whether will begin placing add calls
with Beanstock as anticipated, whether the agreement will allow us
strong visibility into revenue and smoothed quarterly seasonality
in advertising rates, whether we will drive high usage and
engagement as anticipated, whether we will successfully build the
pre-eminent mobile chat app for connecting with new people, whether
DAU, chat, and mobile visits per DAU will continue to grow, whether
mobile revenue will continue to grow as anticipated, whether we
will achieve annual revenue in 2015 as projected, and whether our
adjusted annual EBITDA in 2015 will grow as anticipated to the
amount projected. All statements other than statements of
historical facts contained herein are forward-looking statements.
The words “believe,” “may,” “estimate,” “continue,” “anticipate,”
“intend,” “should,” “plan,” “could,” “target,” “potential,”
“project,” “is likely,” “expect” and similar expressions, as they
relate to us, are intended to identify forward-looking statements.
We have based these forward-looking statements largely on our
current expectations and projections about future events and
financial trends that we believe may affect our financial
condition, results of operations, business strategy and financial
needs. Important factors that could cause actual results to differ
from those in the forward-looking statements include the risk that
our applications will not function easily or otherwise as
anticipated, the risk that we will not launch additional features
and upgrades as anticipated, the risk that unanticipated events
affect the functionality of our applications with popular mobile
operating systems, any changes in such operating systems that
degrade our mobile applications’ functionality and other unexpected
issues which could adversely affect usage on mobile devices.
Further information on our risk factors is contained in our filings
with the Securities and Exchange Commission (“SEC”), including the
Form 10-K for the year ended December 31, 2013, the Prospectus
Supplement (Rule 424(b)(5)) filed on July 24, 2014,and the Current
Report on Form 8-K filed on December 29, 2014. Any forward-looking
statement made by us herein speaks only as of the date on which it
is made. Factors or events that could cause our actual results to
differ may emerge from time to time, and it is not possible for us
to predict all of them. We undertake no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by law.
Fresh PRJeannine
Jacobi323-903-7063jeannine@freshpr.netorInvestor Contact:MKR
Group, Inc.Todd Kehrli or Jim
Byers323-468-2300meet@mkr-group.com
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