NEW HOPE, Pa.--(BUSINESS WIRE)--The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the mobile meeting space, today provided an update on its livestreaming video rollout and key video operating results.
"We see momentum in video building,” said Geoff Cook, Chief Executive Officer of The Meet Group. “We have begun the rollout of Tagged livestreaming on our shared video platform, and we expect to launch enhanced video monetization on Tagged next month. Additionally, we are ahead of schedule with our plans to bring live video to Lovoo, and we now expect to begin rolling out the feature in a phased approach starting in May.
“What’s more, we have been setting new all-time highs related to video engagement and monetization across The Meet Group’s portfolio:
- The number of monetizing users continues to increase on MeetMe and Skout. In particular, the number of paid gifters increased 36% in March over February. Gifters buy virtual gifts for livestreamers.
- Video users as a share of mobile daily active users (or vDAU%) on MeetMe exceeded 25% for the first time ever last week.
- Total broadcast time across our shared video platform exceeded 4 million minutes for the first time this week, and total streaming time exceeded 10 million minutes — combining for over 26 years of live video engagement in a single day.
“We expect Lovoo and Tagged to drive continued growth of video engagement and monetization. Additionally, we have a deep pipeline of product features and enhancements that we believe will continue to drive video DAU and video ARPDAU, while also creating richer, more meaningful connections within our community,” continued Cook. “We recently began rolling out gender filters on MeetMe so that users can connect via live video, and we merged our Skout and MeetMe audiences, giving users of both platforms access to a greater number of potential connections. Skout Live is performing well and is already contributing meaningfully to total video revenue.”
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 4.3 million 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 we will continue to see momentum in video building, whether we will launch enhanced video monetization on Tagged next month, whether we will begin rolling out Lovoo video as anticipated in May, whether we will continue setting new highs related to video engagement on MeetMe and Skout, whether the number of monetizable users will continue to increase on MeetMe and Skout, whether the number of gifters will continue to increase on MeetMe and Skout, whether the share of video DAU will continue to grow, whether total broadcast and viewing minutes will continue to grow, whether we will begin to monetize Lovoo and Tagged users in May, whether Lovoo and Tagged will continue to drive growth of video engagement and monetization, whether our product pipeline will continue to drive video DAU and video ARPDAU while creating richer, more meaningful connections within our community, and whether Skout Live will continue performing well and contribute meaningfully to total video revenue. 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.