MeetMe expects to achieve all-time high $1 million mobile monthly revenue in June 2013
NEW HOPE, Pa.--(BUSINESS WIRE)--MeetMe, Inc. (NYSE MKT: MEET), the public market leader for social discovery, today announced it has released a new version of its iPhone application. The latest version enables the company to place native advertising units in additional popular sections of the MeetMe app, including in Profile, Locals, and Messages. Additionally, the new version provides for improved navigation, an updated profile design, and a new benefit for paid subscribers of the company?s mobile subscription service, MeetMe+.
?We now do more than 100 million monthly impressions of these units?
Geoff Cook, chief executive officer of MeetMe, stated, ?we expect to cross the $1 million monthly mobile revenue number for the first time in June, which marks an all-time record for the company. We credit the launch of Feed Ads in March for enabling that milestone. These units have 200% higher CPMs than our traditional mobile banners and appear in-line with content, enabling us to more directly monetize our users? attention.?
?We now do more than 100 million monthly impressions of these units,? Cook continued. ?With the newest iPhone build, we expect to expand these successful units to additional popular sections of the app over the course of the next few months. This new inventory would represent as much as 3-10x more potential native advertising inventory for our best-performing mobile ad units. We plan to tune and ramp up this advertising capability over the coming 3 to 9 months while carefully managing our user experience.?
Over the past 12 months, MeetMe has launched a number of mobile monetization products, including freemium products, a mobile subscription service, and native advertising units. The latest build also extends upon the company?s mobile subscription service MeetMe+ by enabling subscribers to choose and modify the design of their mobile profiles.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NYSE MKT: MEET). MeetMe makes meeting new people fun through social games and apps, monetized by both advertising and virtual currency. With 60% of traffic coming from mobile, MeetMe is fast becoming the social gathering place for the mobile generation. The company operates MeetMe.com and MeetMe apps on iPhone, iPad, and Android in multiple languages including English, Spanish, Portuguese, French, Italian, German, Chinese (traditional), Russian and Japanese.
Cautionary Note Concerning Forward-Looking Statements
Certain statements in this press release, including those relating to expected revenue, including mobile advertising revenue, the ability to monetize user attention, and expected timely expansion of advertising units to other sections of our mobile application are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words ?believe,? ?may,? ?estimate,? ?continue,? ?anticipate,? ?intend,? ?should,? ?plan,? ?could,? ?target,? ?potential,? ?project,? ?is likely,? ?will,? ?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 the launch of new products and features will not result in additional revenue, the risk that users will not accept our mobile advertising products, the risk that we will not able to expand advertising units to other sections of the mobile application in a timely fashion, the risk that our new products and features will not function as anticipated, the risk that unanticipated events affect the functionality of our mobile application with popular mobile operating systems, any changes in such operating systems that degrade our mobile application?s 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, 2012 and the Current Report on Form 8-K filed with the SEC on May 1, 2013. 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.