Momo, China’s top location-based social networking app, has continued its impressive user growth from last year and added solid financial figures to back it up, according to its most recent earnings report.
“We believe we are still early in the monetization process and have many opportunities to drive further growth year…
In 2016, we have primarily relied on converting existing Momo users onto the live streaming service.
Away from the financials, Momo’s monthly active users reached 81.1 million as of December 2016 from 69.8 million a year previous.
That jump is rebounding to the kind of numbers it recorded in early 2015 when the service reached peak popularity.
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The firm cites the increase of premium VIP users and total users, as well as virtual gift service, as the reason.
Mobile marketing revenues recorded a 29 percent annual growth to .7 million in Q4 2016, mainly driven by more new customers and orders introduced by sales agents, as well as the increase of e CPM (effective cost per mille) of the in-feed advertisement service.
Momo’s mobile gaming unit has been growing quickly thanks to several big titles like hard-core game Momo Craft and Momo Fight the Landlord.
Momo doubled down on this in 2016 as it retreated from a previous joint venture on game publishing in favor of in-house development.
Momo’s live video streaming business adopted a similar commercialization model in which the platform enables viewers to buy virtual gifts for singers, with the revenue split between the broadcaster and Momo.