NEW HOPE, Pa.--(BUSINESS WIRE)--MeetMe, Inc. (NASDAQ: MEET), a public market leader for social discovery, has completed the transition to managing its mobile advertising inventory in-house after terminating its ad management relationship with Beanstock Media, Inc. on June 2 of this year. In recent days, MeetMe has realized rates on most ad placements approximating those under the Beanstock agreement.
Geoff Cook, Chief Executive Officer of MeetMe, said:
“We completed the transition of our advertising inventory to our internal solution ahead of schedule. Just one week after taking over, we have seen our daily mobile advertising revenue on some days surpass our average in May, our last full month with Beanstock. Between June 5th and June 8th our average daily mobile advertising revenue was on par with our May average. We plan to take full advantage of the flexibility we now have with respect to our mobile ad inventory, with a number of enhancements to different ad units planned to go live over the coming weeks.”
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. The company 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, Android and Windows Phone 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.
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including future ad rates, including whether our average daily mobile revenue will approximate, equal or surpass our past averages (in May and otherwise) under the Beanstock agreement, and whether we will take full advantage of the flexibility we now have with respect to our mobile ad inventory and add a number of enhancements to different ad units as anticipated over the coming weeks. 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, 2014, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, and the Current Report on Form 8-K filed on June 3, 2015. 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.