It has been one year since The Meet Group launched monetisation on its livestreaming platforms. To mark the occasion, it announced that the milestones that have been reached in the past 12 months.
The company has seen its annual video revenue run-rate grow to over $48 million, an increase of 14% since August.
In September there was an average of 900,000 users engaging in live video content every day. 125,000 of those users were broadcasting, which led to the total number of livestreaming minutes continuing to grow.
The Meet Group’s CEO Geoff Cook said in a statement: “We’ve made tremendous progress in the last year. It is easily the fastest-growing new product in our history, and we believe we can continue to grow it from here.”
“Livestreaming video is revolutionizing the way people connect. I believe it is a media form that will rival traditional television for size and diversity, with channels developing for video games, dating, contests, and news, to name just a few.
“Having now completed the rollout of our livestreaming platform to all of our apps, including LOVOO, which we fully rolled-out as of mid-August, we see additional opportunities for growth. LOVOO is our most trafficked app, and our early results have been promising, tracking what we saw in the early days of our live video rollout on MeetMe and Skout.”
Since the statement was released, The Meet Group’s stock has risen by over 10%. At the time of writing it sits at $5.50, its highest point in the past 12 months.
The brand’s recent growth can partly be attributed to five new features that were announced in early August. These updates included one-on-one video chats, virtual gifts and battles between streamers.
Executives are very positive about the future of The Meet Group and livestreaming as a whole. GDI’s August Editorial investigated how much of an impact the model could have on online dating in coming years.
Visit The Meet Group website here.