MeetMe

MeetMe Battles

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.

MeetMe Live Video Streaming

In the pass year The Meet Group has doubled down and put the focus on live video steaming for their social entertainment apps including MeetMe, Skout, Tagged, and LOVOO. Live video streaming from real members keeps everyone engaged and has increased their mobile daily active users significantly. With the introduction of Live streaming last year and with the final roll out for all apps in August of this year with LOVOO (there most trafficked app), The Meet Group has been able to diversify revenue mix consisting of in-app purchases, subscription, and 3rd party advertising.

Dating apps happily boast about their sign-up rates or the number of marriages they’ve created, but they’re understandably reluctant to release less flattering figures. How many users actually stick with an app once they’ve created a profile? How many let their account lapse, or delete the app altogether? Which apps are most quickly abandoned?

In pursuit of more juicy data, mobile data company Ogury sampled more than six million mobile user profiles from its network to take a deep dive into usage habits around the world. They focused on users in the US, UK, France, Italy, and Spain who had used dating apps within the six months between January and June 2017. To present the most balanced findings, they were were careful to maintain an identical male to female ratio in each region.

Ogury’s results reveal a landscape that may surprise online dating’s biggest advocates. One chart in the report shows that dating app longevity leaves something to be desired, with most app uninstalls occuring within the first day of usage. Zoosk users, at 44.1%, are most likely to uninstall in less than 24 hours, followed by Grindr at 33.6% and Tinder at 32.9%.

Spring is off to a big start for MeetMe. The social discovery service recently announced the beta launch of a live video feature in its popular applications, followed a few days later by a completed acquisition and a rebrand to The Meet Group.

MeetMe introduced Live to the world on March 30. Live is a one-to-many video feature that allows users to broadcast themselves, watch other users’ broadcasts, and chat in real time. The feature is now available to MeetMe’s beta community, with plans to roll out to more users in the coming weeks.

After the completion of the initial rollout, MeetMe intends to launch new freemium products within the video streams to help monetize the feature and encourage broadcasters to produce high-quality content. The company also expects to bring the feature to its Skout mobile applications later in the year.

Cast your mind back to 2004. The year was a big one for the blossoming industry known as social media. Facebook debuted and went on to become the world’s largest social networking platform. Tagged and Hi5 also launched in 2004, and though they remained relatively under the radar, both earned significant revenue through games and paid features.

Tagged purchased Hi5 in 2011. After renaming the parent company ‘If(we)’ and changing its focus to social app development, revenue began to drop. Plans for an IPO were also dropped. Now, six years later, social discovery platform MeetMe has acquired If(we) for $60 million in cash.

It’s good news all around for MeetMe. The social discovery service, founded in 2005 to connect users on mobile devices, has posted better-than-anticipated financial results for the second quarter of 2016. The company also announced plans to acquire Skout, a leading global mobile network for meeting new people.

Wall Street’s initial projections predicted $15.27 million in revenue for MeetMe. Instead, revenue exceeded expectations, climbing 48% from last year and clocking in at $16.4 million. Mobile revenue rose 82% to $15.1 million year-over-year. Mobile represented more than 92% of MeetMe’s total revenue in the second quarter.

Adjusted EBITDA increased 109% year-over-year to $6.0 million, reflecting a 37% adjusted EBITDA margin. Non-GAAP net income reached $4.8 million, a 103% increase over Q2 of last year.