MeetMe’s Mobile-First Strategy Continues Annual Growth

Meet Me

Social discovery site MeetMe has continued its positive momentum in 2015, despite a slight dip during the industry’s slow season.

The company said its mobile revenue was $8.3m, a 47% increase from the second quarter of last year, and an increase of $100,000 from the previous quarter.

And although MeetMe‘s total revenue dropped to $11.1m, from $11.6m in Q1, this figure was still 4% higher than total revenue from the year before.

MeetMe is also still pushing its mobile strategy, with mobile revenue accounting for 75% of the network’s total revenue.

The company now sees around 80% of its traffic coming from mobile, and a total of over one million daily active users.

Speaking about user engagement, Geoff Cook, CEO of MeetMe said: “Mobile engagement continued to grow during the second quarter, with our mobile daily active users increasing 26% year over year and our total mobile monthly users increasing 42% year over year.

“We also achieved multiple milestones during the quarter, including surpassing 25m chats in a single day, up more than 100% from a year ago, and reaching 20 million installs of our flagship Android app.

“Additionally, we saw increased international growth, with approximately 20,000 new international users joining every day during the quarter, up more than 100% versus a year ago.”

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MeetMe’s adjusted EBITDA was $2.9m (a 26% margin), a rise of 288% year over year, and a small drop from $3.1m in the previous quarter.

Net income also grew from $722,000 in Q1 to $1.2m.

Cook also said the company had made strides on its click-through-rate : “During the quarter, we successfully transitioned our mobile advertising inventory management to an in-house solution and have benefited from this change with much stronger click-through-rates and increased mobile revenue.

“From July 1 through July 26, our click-through-rate (CTR) increased 62% over the average in April, the month in which we began making mobile ad logic changes. During the same period our daily mobile app ad revenue increased 50%.”

The company monetises through a combination of advertising, virtual currency, and user subscriptions.

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