The Meet Group has released its Q4 and full year financial results for 2017.
Total Q4 revenue is up 37% year-on-year to $40.1 million, and mobile revenue is up 15% to $32.0 million.
The firm had an adjusted Q4 EBITDA of $10.5 million, compared to $12.8 million in the prior year quarter.
Full year total revenue was $123.8 million, up 63% year-on-year. Mobile revenue was $97.8 million, up 38%.
The adjusted EBITDA for the full year came in at $31.6 million, up 8% year-on-year – a 26% margin.
“Video has arrived at The Meet Group,” said Geoff Cook, Chief Executive Officer. “While we only just began to monetize livestreaming video in the fourth quarter of 2017, it’s already a $19 million annualized run rate business based on the month of February’s results, up 70% versus the fourth quarter average.
“We believe that’s remarkable progress, particularly given that we’ve deployed video on only two of our four major apps, representing just 40% of our total daily active users (DAU). We expect video revenue to continue to grow quickly in 2018 and beyond, as we seek to rapidly expand our daily video audience and improve our per-video-user monetization rates.
“We are in the process of video-enabling our large, global social community, and we believe that outside of Asia we are the only social dating company of size with a full-scale commitment to live video.”
Cook added that he expects the first quarter of 2018 to see ad revenues surpassed by direct user-pay.
“(…) our share of user-pay revenue grew from 6% in the fourth quarter of 2016 to 39% in the fourth quarter of 2017. We expect it will approach 60% in the first quarter of 2018”, he says.
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