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Social Entertainment Apps Could Deliver a 33% Gain

Social Entertainment Apps Could Deliver a 33% Gain

The Meet Group, Inc. (Nasdaq: MEET) recently gave some hints about how the company will meet its goal of doubling the brand new $82 million revenue stream its created by becoming the first Western dating app company to integrate livestreaming.  Investors seem pleased with the news.

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  • The Meet Group, Inc. operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide.

    The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company’s primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

    Philadelphia Business Journal summarized the company’s plan to reach its revenue goals:

    “Meet has built its portfolio of five dating apps through acquisitions, with the $11.8 million deal to buy niche gay dating app Growlr being the most recent.”

    Meet Group, CEO, Geoff Cook, was recently asked, what kind of companies they’re on the lookout for, and he had some clear ideas.

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  • “Historically, it’s looked for apps that either expand into a segment of users it hasn’t reached before or a new geographic area, like Growlr with the gay community and Lovoo with its European foothold. Integrating video has been a top priority.”

    Cook added: “They like to see a lot of one-to-one chat messages and relatively high DAU, or daily active user count. All have been accretive, even before adding live video synergies.”

    Cook also spoke about the competition the company faces and discussed the incompatibility of an app where you swipe left or right to talk to people with their now signature livestream video capabilities.

    “The dynamics that make most of those brands successful, the swiping in order to unlock chats, is that same thing that would make it difficult for them to add video, at least in the way we’ve done it,” Cook said.

    Interestingly, the company released its annual report earlier this month, and it identified additional opportunities as “the development and delivery of standalone apps with a non-dating focus as well as geographic expansion.”

    The company also shared plans that include getting more users hooked on livestreams.

    “Cook expects video revenue to double in 2019 and double again by 2021, he said, and part of meeting those goals is increase how many users interact with live video from current levels of about 20 percent to 25 percent in the short term and to 30 percent in the long term.

    To do so, it’s planning on rolling out one-to-one video chat options that tie into existing chats as well as group video chats. Interactive dating shows, and tying live video to its local section so users can watch those from people near them are in the works as well.”

    It appears that the CEO’s plans to increase revenue have caught the attention of investors, and the stock has more than doubled in the past 52 weeks.

    MEET daily chart

    MEET should be considered a buy if momentum increases.

    Look for an entry at $5.18 with a price target of at least $6.90 based on the pattern in the chart.

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