Category: Momo
China’s Momo to Collaborate on Beijing-set Drama
SCREEN DAILY – Oct 14 – Momo is moving into film production with Beijing-set drama, The Best Is Yet To Come, to be executive produced by Chinese filmmaker Jia Zhangke. The film revolves around a group of young people who move to Beijing in the early 2000s, just as the city's economic development was starting to take flight. Momo started out as a dating app, similar to Tinder, before moving into the live streaming space as it started to boom in China. Momo also moved into reality TV production last year, as competition for talent that can attract eyeballs to the country's growing number of live streaming platforms heats up.
Momo’s Stock Price Likely to Remain Volatile as Growth Slows
GRIZZLE – Sep 3 – Momo released Q2 results last week which were better than expected. The stock price have also received a boost from Zao, the face swapping app which went viral over the weekend. For Q2 revenue grew 32% to $604M, $25M ahead of consensus. But revenue from live streaming video is seeing a dramatic slowdown in growth. This segment grew revenue 18%, vs 32% for the entire company. Value added revenue, which includes virtual gifting, was the main growth driver and increased 169%. Momo faced several challenges, including the temporary suspension in May of the homepage and its Tantan dating app. However, the stock still has a strong following. Going forward, this share is likely to be driven by sentiment more than anything else. As such it may best be treated as a trading stock.
Momo’s New App ZAO Sparks Mass Downloads and Major Concerns
RADII – Aug 30 – Momo's new face swap app Zao is the hottest thing on the Chinese internet right now. But the app is also raising a host of privacy concerns on Chinese social media. Users take a selfie and put themselves into their favorite movie or soap opera. Zao user agreement states that the app gives Momo global rights to use any imagery created on the app for free. Once a user has opted in, there doesn't seem to be the right to revoke the agreement.
Momo’s Q2 Financial Results
PRESS RELEASE – Aug 27 – Net revenues increased by 32% YOY to RMB4,152.6M ($605M) in the Q2'19. Net income slightly decreased to RMB731.8M ($106.6M). Monthly Active Users on Momo app were 113.5M in June 2019, compared to 108M in June 2018. Total paying users of the company's live video service and value-added service, including 3.2M paying users of Tantan, were 11.8M, up from 11.6M in Q2'18.
Momo Tops Fortune’s 100 Fastest-growing Companies
KRASIA – Aug 16 – Momo ranked first in the recently published Fortune's 2019 edition of 100 fastest-growing companies worldwide, which takes account of earnings per share (EPS) growth rate, revenue growth rate and three-year annualized return. Momo, founded in March 2011, started as a dating app but has diversified to offer a more comprehensive social experience that integrates live streaming and gaming. Momo registered 114.4M monthly active users in March 2019, compared to 103.3M in March 2018. The revenue increased by 141% yearly on average in the past three years. Its EPS in the three years that ended on June 28 raised 193% each year on average, ranking second. Total stock return for three years grew 53% each year on average, ranking 14th.
by Song Jingli
See full article at KrAsia
Momo Is Launching New Dating App Qiao Qiao
Momo: Tantan Is Back With a Bang
SEEKING ALPHA – July 24 – On April 29, dating app Tantan was removed from app stores in China at the direction of government authorities. After a 10-week hiatus, the app is available again on Chinese app stores. Less than 24 hours after being back online, the app roared to the top of the grossing ranks in China. Momo shares were trading ~$36 before the announcement of the suspension of Tantan. The share price fell ~25% over the course of May. Now shares have rallied back up, close to their price pre-suspension.
China’s Millennials Are Mourning the End of an Era in Online Hook-up Culture
QUARTZ – June 25 – Tencent, the Chinese technology giant that operates messaging app WeChat, has shut down an anonymous chat function, called "drift bottle". On drift bottle, users could "throw" bottles containing either a text or voice message into a virtual ocean or "pick up" floating ones. The function allowed users to stay anonymous, but people could also exchange contact details through the bottles. Tencent announced in December that it would suspend drift bottle on both QQ Mail and WeChat, after it found that users had been spreading pornography or soliciting prostitution on the platform. In April, the company said it would officially shut down the chat programme on QQ Mail on June 24. It has not said whether drift bottle would be resumed on WeChat. For many of China's Internet users, particularly those born in the 1980s, drift bottle was a go-to-place for finding either friendship or romance online. With the rise of local dating apps and social networks such as Momo and Weibo, drift bottle is now largely an object of nostalgia for China's Internet users.