MeetMe Releases Revamped MeetMe+ Subscription Product
Achieves Rank of #2 Top-Grossing Social App on Android
Sets New Single-Day Mobile DAU Record
MeetMe, Inc. (NASDAQ: MEET), a public market leader for social discovery, has released a major revamp of its MeetMe+ subscription product on its popular Android and iOS apps. The improved product is designed to dramatically increase the number of paying subscribers and includes a number of new features including enhanced filtering, Top of the Inbox, and unlimited access to the most popular members.
Enhanced filtering allows MeetMe+ subscribers to search for users by interest, relationship status, height, religion, education, and other demographic and behavioral fields. Top of the Inbox is designed to increase MeetMe+ subscribers’ reply rates by placing their chats at the top of other user’s inboxes. MeetMe+ members also have exclusive access to chat with the app’s most popular members. In addition to these new benefits, MeetMe+ subscribers continue to enjoy an advertisement-free experience, stealth browsing, access to photo views, profile themes, and bonus credits.
“As of yesterday, MeetMe for Android achieved the ranking of #2 Top-Grossing Social App in the Google Play Store in the United States,” said Geoff Cook, CEO of MeetMe. “While it is too early to predict the long-term performance of the revamped subscription service, we are quite pleased with the early signs of acceptance from our community. MeetMe for iPhone has enjoyed similar success in recent days, rising 9 places in the Top-Grossing Social rankings to #11 in the App Store in the United States.
“As I’ve noted before, we expect the updated MeetMe+ product to at least double subscription revenue in 2016 from its small base today of roughly $1 million per year. As part of this revamp to MeetMe+, we have also launched the foundation for a new recommendation engine touching all users, both paying and non-paying. We believe the new recommendation engine will enable us to better leverage our data to drive more relevant chat for our members. Over time, we look forward to beginning to feed this engine with interest, demographic, and behavioral data.
“We are pleased also to have set a new single-day mobile DAU record on Monday of this week, crossing 1.2 million mobile DAU for the first time in our history. We believe the recommendation engine will help continue that momentum into next year.”
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NASDAQ: MEET). MeetMe makes it easy to discover new people to chat with on mobile devices. With approximately 80 percent of traffic coming from mobile and more than one million total daily active users, MeetMe is fast becoming the social gathering place for the mobile generation. MeetMe is a leader in mobile monetization with a diverse revenue model comprising advertising, native advertising, virtual currency, and subscription. MeetMe apps are available on iPhone, iPad, Android, and Windows Phone in multiple languages, including English, Spanish, Portuguese, French, Italian, German, Chinese (Traditional and Simplified), Russian, Japanese, Dutch, Turkish and Korean. For more information, please visit meetmecorp.com.
Cautionary Note Concerning 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 the revamped product will dramatically increase the number of paying subscribers, whether enhanced filtering will allow MeetMe+ subscribers to search for users as intended, whether Top of the Inbox will increase MeetMe+ subscribers’ reply rates by placing their chats at the top of other user’s inboxes, whether MeetMe+ members will have exclusive access to chat with the most popular members, whether MeetMe+ subscribers will continue to enjoy an advertisement-free experience, stealth browsing, access to photo views, profile themes, and bonus credits, future rankings of the MeetMe app in the Google Play Store and the App Store, the long-term performance of the revamped subscription service and whether our community will accept the revamped subscription service, whether the updated MeetMe+ product will at least double subscription revenue in 2016, and whether our new recommendation engine will enable us to better leverage our data to drive more relevant chat for our members, whether we will begin to feed the recommendation engine with interest, demographic, and behavioral data as anticipated, future amounts of mobile DAU, and whether the recommendation engine will enable us to continue that momentum into next year. 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, 2014 and the Current Report on Form 8-K filed with the SEC on June 3, 2015. 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.