MeetMe Continues To See Mobile Revenues Soar

Mobile & social app MeetMe continues to see mobile revenues soar, having just released its financial results for the full year of 2015.

For 2015, MeetMe saw total revenue rise 27% year over year to a record $56.9m.

This was driven by a huge increase in mobile revenue, which jumped 84% to $45.3m – now representing 80% of its total revenue.

This number is up from 55% in 2014, as MeetMe decided to focus on ensuring its mobile business – including its subscription service and advertising offerings – was its core.

Last year, MeetMe’s CEO said this growth came from an increase in engagement, ad pricing and the continued strength of the mobile advertising industry.

And for the last quarter of 2015, MeetMe also saw strong growth, with revenue up 53% to $19.9m, and mobile revenue up a massive 126%.

Speaking about the results, CEO Geoff Cook said: “We believe our record revenue, adjusted EBITDA and net income reflect the increasing value of our audience to mobile advertisers and the continued growth in mobile engagement by our users.

“We saw record engagement in the fourth quarter and experienced tremendous growth in chats this past year, reaching a new milestone of 30 million user-to-user chats in a single day at the end of the year.”

MeetMe’s mobile daily active users also increased 20% year over year in the fourth quarter, and its total mobile MAUs increased 32% year over year.

With these earnings, at the end of 2015, MeetMe had a net income of $5.9m, which is up from a loss of $3.9m in 2014.

Interestingly, last week CEO Geoff Cook sold 50,000 shares of MeetMe shares for $173,000.

The CEO now owns 1,642,093 shares in the company, which is valued at $5,681,641.

Read the company’s full report here.