Contributed by: ElyseRomano Friday, December 28 2018 @ 11:45 am
The Meet Group, a portfolio of brands in the mobile social networking and entertainment space, is rolling out a new feature called Battles on its MeetMe and Skout apps.
“Battles brings an exciting competitive dynamic to Live, and we are thrilled to bring this new feature to our users,” said Geoff Cook, CEO of The Meet Group. “We believe that the addition of Battles will contribute to our growing video revenue run-rate, which exceeded $62 million annualized, based on the month of November, up from the $55 million number we reported in October. Momentum in video revenue has continued into December, and this past weekend we achieved the highest video revenue day in our history.”
Battles is The Meet Group’s latest bid to harness the power of streaming video. The feature brings together two livestreamers and their audiences for a live showdown. The competitors can challenge each other in a variety of categories ranging from music, to dance, to comedy and more. Each battle lasts only a few minutes. The winner is the streamer who earns the most diamonds by receiving gifts from viewers during the battle.
According to Cook, Battles furthers The Meet Group’s mission to find novel ways to deliver meaningful connections by allowing users to connect around talent. He also hopes it will play a role in continued monetization for MeetMe and Skout.
“We believe [Battles] has the potential to incent viewers to give more gifts to streamers, which is primarily how we monetize video today,” Cook explained. “We believe the competitive dynamic will strengthen the relationships between streamers and their fans. Battles, sometimes referred to as PK in Asian livestreaming apps such as MOMO and YY, appears to be a mainstay of monetization for those apps, contributing both to engagement and to monetization, and we believe it is a natural fit with our community as well.”
Battles is only one piece of The Meet Group’s plan to increase monetization. Cook revealed the company has a pipeline of features and programs in the works with the goal of boosted monetization in mind. The recently-launched 12 Days of Gifting campaign, which includes exclusive holiday-themed gifts, is aimed at maximizing gifting during the peak of the holiday season. The Meet Group also plans to bring a gamification element to Live by introducing Levels in the first half of 2019.
“We expect Levels to contribute to increasing user engagement, as streamers and gifters strive to reach higher levels while competing with their fellow users for top recognition. We look forward to the impact that we expect Battles and our future product initiatives to have on Live,” Cook said.
To find out more about Meet Groups apps, you can read our MeetMe app review.