- Annualized Video Revenue Run-rate Now
Exceeds $48 million
- Video DAU Averages More Than
900,000
- Marks One Year Anniversary of Launch of
Livestreaming Monetization
The Meet Group, Inc. (NASDAQ: MEET), a public market leader in
the mobile meeting space, today provided an update on its
livestreaming video platform, ahead of the Company’s presentation
at the B. Riley FBR Consumer & Media Conference in New York
City, scheduled for 3:30pm today.
“We’ve made tremendous progress in the last year,” said Geoff
Cook. “As of September, our video business is now generating more
than $48 million on an annualized basis – growing from zero in
October of last year. It is easily the fastest-growing new product
in our history, and we believe we can continue to grow it from
here.
“For the month of September, daily live video users averaged
more than 900,000, of which an average of 125,000 were
broadcasting. We’ve also continued to grow total minutes of
livestreaming content,” added Cook.
For the month of September:
- Annualized video revenue run-rate
exceeded $48 million, an increase of 17% versus the $42 million we
last reported in August.
- Daily video users exceeded 900,000, an
increase of 20% from the 750,000 we last reported in July.
Increased vDAU reflects growing video penetration at LOVOO.
- Daily video users as a share of mobile
daily active users (or average vDAU%) exceeded 20% for the
portfolio.
- Total daily time spent in video
exceeded 25 million minutes.
“Livestreaming video is revolutionizing the way people connect,”
continued Cook. “I believe it is a media form that will rival
traditional television for size and diversity, with channels
developing for video games, dating, contests, and news, to name
just a few. The rise of services like Twitch, HQ, and MOMO, I
believe, are indicative of this trend, as is our substantial
progress growing a global social entertainment livestreaming
network.
“Having now completed the rollout of our livestreaming platform
to all of our apps, including LOVOO, which we fully rolled-out as
of mid-August, we see additional opportunities for growth. LOVOO is
our most trafficked app, and our early results have been promising,
tracking what we saw in the early days of our live video rollout on
MeetMe and Skout. This past Sunday, for example, LOVOO’s share of
vDAU surpassed 20%, up from an average of 14% in August, which
contributed to total portfolio vDAU on that day surpassing one
million for the first time in our history.
“In addition to rolling out Live to more users, we’ve also begun
expanding the use cases of video within the app. With the recent
launch of our Quick feature on the MeetMe app, we extended our
livestreaming solution from one-to-many to one-on-one. For Quick,
our focus in the coming months will be to grow its value and
engagement within the community, similar to the early days of our
live platform launch last year.
“We are excited, as well, about our expected roll out of Battles
beginning later this year. Battles is our twist on the popular PK
Asian livestreaming format, which we believe will further grow
video monetization and engagement. We believe this format has been
a mainstay of livestreaming monetization for apps as varied as YY,
MOMO, and Inke. We aim to re-interpret this format for a Western
audience. We believe we are in the early innings of the
livestreaming opportunity, and we are excited by the potential of
live video to enable meaningful connections for our users.”
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 live-streaming video platform,
empowering our global community to forge meaningful connections.
Our primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep
millions of mobile daily active users entertained and engaged and
originate untold numbers of casual chats, friendships, dates, and
marriages. Our apps, available on iPhone, iPad, and Android in
multiple languages, use innovative products and sophisticated data
science to let our users stream live video, send gifts, chat, and
share photos. 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 will continue to make
progress with our video business and if so at what rate, whether
our video business will continue to generate revenue at a $48
million annualized rate, whether our video product will continue to
be the fastest growing in our history, whether the number the
number of daily live video users (including broadcasters) will
continue to grow, whether our number of total minutes of
livestreaming content will continue to grow, whether video
penetration at LOVOO will continue, whether daily video users as a
share of mobile daily active users will continue to grow, whether
total daily time spend in video will continue to grow, whether
livestreaming will revolutionize the way people connect, whether
livestreaming will rival traditional television for size and
diversity, whether livestreaming channels will develop for video
games, dating, contests, news, and other formats, whether we will
build a global livestreaming network for social entertainment,
whether we will realize additional opportunities for growth in
livestreaming, whether our early results for LOVOO livestreaming
will be indicative of future results, whether LOVOO’s share of vDAU
will continue to increase, whether we will expand the use cases of
video in our apps, whether we will grow Quick’s value and
engagement within the community, whether we will roll out Battles
as anticipated, whether Battles will further grow video
monetization and engagement, whether we will successfully
reinterpret the YY, MOMO and Inke format for Western audiences,
whether we are in the early innings of the livestreaming
opportunity, and whether live video will enable meaningful
connections for our users. 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 and our Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2018 and June 30, 2018 filed with the SEC
on May 7, 2018 and August 2, 2018, respectively. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181004005124/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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