The Meet Group, Inc. (NASDAQ: MEET), a public market leader in the mobile meeting space, today announced the launch of live video on its Lovoo app in Austria.
“We are thrilled to bring live video to Lovoo,” said Geoff Cook, Chief Executive Office of The Meet Group. “We’ve been building our video platform for more than a year-and-a-half, and we are pleased to bring this compelling product to Lovoo’s European audience. Lovoo is our largest app by daily active users, providing a meaningful opportunity for us to continue to grow video revenue.
“Since launching Live in Austria yesterday, we’ve already seen 15% of users engage with the product, a level comparable to what we had seen in the early days after launching Live on our MeetMe app,” continued Cook. “As I’ve indicated previously, we plan to follow our Austrian rollout with an expansion to France, Germany, Italy, Spain, and Switzerland on a country-by-country basis throughout the second half of 2018, with France expected to launch next in June.
“Our progress growing live video monetization continues to be strong. We look forward to bringing the benefits of our compelling product roadmap to our entire user base.”
About The Meet Group
The Meet Group (NASDAQ: MEET) is a portfolio of mobile social entertainment apps designed to meet the universal need for human connection. We leverage a powerful live-streaming video platform, empowering our global community to forge meaningful connections. Our primary apps, MeetMe®, LOVOO®, Skout®, and Tagged®, keep millions of mobile daily active users entertained and engaged and originate untold numbers of casual chats, friendships, dates, and marriages. Our apps, available on iPhone, iPad, and Android in multiple languages, use innovative products and sophisticated data science to let our users stream live video, send gifts, chat, and share photos. The Meet Group has a diversified revenue mix consisting of in-app purchases, subscription, and advertising, and we have offices in New Hope, Philadelphia, San Francisco, Dresden, and Berlin. For more information, visit themeetgroup.com, and follow us on Facebook, Twitter or LinkedIn.
Forward Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including whether Lovoo will provide a meaningful opportunity for us to continue to grow video revenue, future levels of user engagement with the Live product, whether we will expand our Live rollout to France, Germany, Italy, Spain, and Switzerland on a country-by-country basis throughout the second half of 2018 as expected, whether we launch Live in France in June as expected, and whether we will bring the benefits of our compelling product roadmap to our entire user base as expected. All statements other than statements of historical facts contained herein are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “project,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the risk that our applications will not function easily or otherwise as anticipated, the risk that we will not launch additional features and upgrades as anticipated, the risk that unanticipated events affect the functionality of our applications with popular mobile operating systems, any changes in such operating systems that degrade our mobile applications’ functionality and other unexpected issues which could adversely affect usage on mobile devices. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (“SEC”), including the Form 10-K for the year ended December 31, 2017 filed with the SEC on March 16, 2018. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.