MEET stock has more than doubled since April, rising from $1.92 on 4th April to $4.00 today (4th June).
The price climbed 10% this week after The Meet Group announced dating property LOVOO would be introducing video streaming into new markets.
Early data indicates users watch live streams for over 15 minutes per day, and average content creators broadcast for over 45 minutes.
The technology will be rolled out in Italy, Spain and Germany over the course of 2018 – major markets which will likely see a leap in video gifting revenue.
Speaking at the Q1 earnings call, CEO Geoff Cook said: “Video revenue grew approximately 120% from December 2017 to March 2018, which we attribute to momentum on our MeetMe app, the launch of livestreaming monetization on Skout, and our focus on strengthening our livestreaming community and the quality of our livestreams.”
He added: “Average revenue per daily active user for MeetMe Live, or vARPDAU, in the United States increased to 44 cents in March and is now nearing levels achieved by leading livestreaming companies in Asia.”
The Meet Group are among the companies speaking at GDI Los Angeles 2018 next week.
Read more here.