A video of The Meet Group CEO Geoff Cook speaking at the App Promotion Summit in New York City has just been published.
Filmed on 27th June 2019, Cook’s presentation explained how his online dating company has grown rapidly in the past 16 months and morphed into a hybrid dating/livestreaming platform.
He wanted his portfolio of apps to serve users in both a utility sense, helping them to meet romantic partners and friends, and in an entertainment sense by hosting one-to-many streamers.
Currently, 25% of daily active users view 25 minutes of video content per day, and half of the monthly active users have accessed it at least once.
Live video is also much easier to monetise than chat and brings in considerably more revenue. The Meet Group is estimating that it will more than double its video revenue between 2019 and 2021.
It is aiming to do this by introducing one-to-one video calls in text chats, migrating more of its dating users over to the streaming side.
There are also plans to introduce a live video dating game. Cook was fairly vague about the feature, but did assure the audience that it would focus specifically on matching users, making it different to other similar products such as HQ Trivia or Scruff’s Hosting.
The Meet Group announced today that its Q2 financial results will be released on 31st July. An accompanying conference call to discuss the results and investment opportunities will be held at 8:30am ET, before trading opens for the day.
Watch the full video here.