MeetMe reports strong annual growth of mobile revenue
MeetMe, Inc., the social discovery network, reported strong financial results for 2015, with total revenue up 27%. Mobile revenue jumped 84% year-on-year to $45.3m and represented 80% of total revenue, up from 55% in 2014.
Fourth quarter 2015 mobile revenue was even higher, up 126% to $17.2m.
MeetMe 2015 revenues
Geoff Cook, Chief Executive Officer, MeetMe, said:
“We believe our record revenue, adjusted EBITDA and net income reflect the increasing value of our audience to mobile advertisers and the continued growth in mobile engagement by our users. We saw record engagement in the fourth quarter and experienced tremendous growth in chats this past year, reaching a new milestone of 30 million user-to-user chats in a single day at the end of the year. In the fourth quarter, our mobile daily active users increased 20% year over year and our total mobile monthly active users increased 32% year over year.”
MeetMe has been busy rolling out its native chat ads for its iPhone app and video interstitials for Android apps.
David Clark, Chief Financial Officer MeetMe, added:
“Mobile revenue for 2015 increased 84% year over year and represented 80% of our total revenue, up from 55% in 2014. We believe our increasing revenue was driven by our growing mobile engagement as well as continued strength in the mobile advertising industry. Much of the increased revenue flowed through to adjusted EBITDA, which increased to a record $20 million for the year, resulting in a 36% adjusted EBITDA margin.”