The Meet Group Brings Live Video to Germany
July 18 2018 - 7:30AM
Business Wire
Annualized Video Revenue Run Rate Now Tops $35
Million
The Meet Group, Inc. (NASDAQ:MEET), a public market leader in
the mobile meeting space, announced that it has begun the roll out
of live video in Germany on LOVOO, one of the largest
German-speaking dating apps by downloads, and provided an update to
its livestreaming video revenue run rate.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20180718005214/en/
Love. Live. LOVOO. (Graphic: Business
Wire)
“We are excited to launch LOVOO Live in Germany,” said Geoff
Cook, Chief Executive Officer of The Meet Group. “LOVOO is our
largest app by daily active users, and Germany is by far its
largest country. With LOVOO Live now rolling out in Germany and
expected to be fully available in the coming weeks, we have brought
live video to all of our major apps. Now, we are focused on a deep
product pipeline that we believe will continue to grow our
livestreaming audience and monetization.”
“Our livestreaming video revenue continues to grow,” said Cook.
“Our annualized video revenue run rate now exceeds $35 million
based on June’s results, up 20% in two months. With our 1-on-1
livestreaming feature, Quick™, planned for launch later this
summer, and with LOVOO and Tagged, which we believe are still very
early in their monetization trajectory, we are focused on rapidly
expanding our livestreaming business.”
“The early monetization data coming from LOVOO in other markets
has been good,” continued Cook. “In recent weeks, we’ve doubled the
number of gifts per gifter. What’s more, LOVOO not only has the
highest share of gifters at launch of any app in our portfolio, it
is already on par with our highest performing app, MeetMe, on that
important metric, with approximately 3% of viewers sending gifts.
We believe livestreaming enables dating apps to expand into social
entertainment platforms and that we are well positioned to benefit
from this global trend.”
About The Meet Group
The Meet Group (NASDAQ: MEET) is a portfolio of mobile social
entertainment apps designed to meet the universal need for human
connection. We leverage a powerful livestreaming video platform,
empowering our global community to forge meaningful connections.
Our primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, entertain
millions of mobile daily active users, generating untold numbers of
casual chats, friendships, dates, and marriages. Our apps,
available on iPhone, iPad, and Android in multiple languages,
combine product innovation with sophisticated data science to both
entertain and connect our audience. The Meet Group has a
diversified revenue mix consisting of in-app purchases,
subscription, and advertising, and we have offices in New Hope,
Philadelphia, San Francisco, Dresden, and Berlin. For more
information, visit themeetgroup.com, and follow us on Facebook,
Twitter or LinkedIn.
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 we will successfully execute
on our product pipeline and if so whether it will continue to grow
our livestreaming audience and monetization, whether our
livestreaming video revenue will continue to grow, whether our
annualized video revenue run rate will continue to exceed $35
million, whether we will launch our 1-on-1 livestreaming feature
later this summer, whether LOVOO and Tagged are still very early in
their monetization trajectory, whether we will expand our
livestreaming business, whether the number of gifts per gifter will
continue to grow, and whether livestreaming will enable our dating
apps to expand into social entertainment platforms, and whether we
are well positioned to benefit from that global trend. 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, 2017 filed with the SEC on March 16, 2018. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180718005214/en/
The Meet Group, Inc.Investor Contact:Leslie Arena,
267-714-6418larena@themeetgroup.comorMedia Contact:Brandyn
Bissinger, 267-446-7010bbissinger@themeetgroup.com
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