NEW HOPE, Pa.--(BUSINESS WIRE)--The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the mobile meeting space, today announced that it has launched Quick, its new one-on-one live video chat feature, to users of its MeetMe mobile application in the United States.
“We are thrilled to bring Quick to our MeetMe users,” said Geoff Cook, CEO of The Meet Group. “In addition to being our most requested feature, Quick marks a significant step in video enabling more of our app, while also delivering on our mission to meet the universal need for human connection. We hope to see Quick contribute to our growing video monetization, which now exceeds $42 million annualized, based on the last 30 days of video revenue.”
Quick is expected to increase video monetization as users can either choose to match with another user for free or choose to be matched with users of a specific gender for a fee. In addition, similar to one-to-many livestreaming, users can give virtual gifts in Quick, which they may do to show interest to the broadcaster, break the ice or start a conversation.
“We believe livestreaming video is powerful and enables our audience to connect with each other like never before,” continued Cook. “We’ve seen MOMO successfully pair livestreaming with dating in China, and since 2016, we’ve been bringing this model to Western audiences, first in the U.S. with MeetMe, Tagged, and Skout, and then to Europe with LOVOO. Today’s announcement is a significant step down that same path. We’ve seen the Quick model work successfully abroad, and we believe its one-on-one communication capability will be an important complement to the one-to-many solution we’ve already built.”
“The bottom line is our users are livestreaming more and more of their lives on our apps and on other apps, whether when finding new connections, seeking entertainment, or even when playing video games,” added Cook. “After completing the roll-out of Quick to all MeetMe users, we look forward to launching it on our other apps, starting with Skout later this year. We believe that our pipeline of new video products and features will continue to attract and engage more of our global user base. We are excited to bring what we view as a transformative video product to our community, and are excited about the pipeline of video products to come.”
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.
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether our annualized video revenue run rate will continue to exceed $42 million, whether we will video-enable more of our app, whether Quick will increase our video monetization and whether our video monetization will continue to grow, whether Quick’s one-on-one communication capability will be an important complement to our one-to-many solution, whether our pipeline of new video products and features will continue to attract and engage more of our global user base; whether our users will continue to livestream more of their lives on our apps, whether our pipeline of new video products and features will continue to attract and engage more of our global user base, whether we will complete our roll-out of Quick on MeetMe and our other apps as anticipated, and whether Quick will be a transformative video product. 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.