Today, The Meet Group announced the rollout of live video on LOVOO in Germany.
The company also released an update on its livestreaming video revenue run rate.
“We are excited to launch LOVOO Live in Germany,” said Geoff Cook, CEO of The Meet Group. LOVOO is one of the most popular dating apps in the German market by downloads.
“LOVOO is our largest app by daily active users, and Germany is by far its largest country. With LOVOO Live now rolling out in Germany, we have completed the rollout of live video on all of our major apps.
“Now, we are focused on a deep product pipeline that we believe will continue to grow our livestreaming audience and monetization.”
Cook added: “Our annualized video revenue run rate now exceeds $35 million based on June’s results, up 20% in two months.
“With our 1-on-1 livestreaming feature, Quick, planned for launch later this summer, and with Lovoo and Tagged, which we believe are still very early in their monetization trajectory, we are focused on rapidly expanding our livestreaming business.”
The Meet Group reports that the number of video gifts being given ‘per gifter’ has doubled in recent weeks. LOVOO already has comparable rates of video gifting (3%) to MeetMe, despite only just having launched the streaming interface.
Geoff Cook recently contributed a guest post to Global Dating Insights, arguing that live streaming is the future of the dating industry – find it here.
Visit the website here.