SEEKING ALPHA – June 11 – Momo believes its underperforming Tantan app could grow strongly following a major overhaul now in the works. Tang Yan's move from the CEO's office was just the beginning of a bigger shakeup. That shakeup claimed new victims in April with the departure of the CEO and COO of the Tantan app that Momo acquired for $760M in 2018. Momo's current CEO Wang Li, formerly Momo's longtime COO, confirmed the changes at the top of Tantan on the company's action-packed investor call following the release of its quarterly earnings this week. Investors seemed to welcome the news, with Momo’s shares up 10% since the announcement of the company's latest quarterly results. The company's revenue fell 3.4% to $543M in the Q1, and Momo said it expects another decline of ~5% in the current quarter. Both of those figures do represent an improvement from the 12% revenue decline from last year, including a 19% drop in the Q4. Q1 profit was similarly uninspired, falling 14%.
Category: Tantan
Momo Q1 Financial Results
MOMO – June 9 – Q1 2021 net revenues decreased by 3.4% YOY to RMB3,470.6M ($529.7M). Net income attributable to Momo decreased to RMB461.7M ($70.5M) from RMB538.9M in the same period of 2020. Monthly Active Users on Momo app were 115.3M in March 2021, compared to 108M in March 2020. Total paying users of our live video service and value-added service, including 3.5 million paying users of Tantan, were 12.6M for the Q1 of 2021, compared to 12.8M for the Q1 of 2020, which included 4.2M paying users of Tantan.
Dating Apps Revolutionize Romance in India
by Neeta Lal
See full article at Nikkei Asia
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Momo Could Buy Back Itself in Under 6 Years
SEEKINGALPHA – Apr 20 – Momo's fair market value could be ~250% above the current market price. The company's dating business is poised for growth post-Covid. A reduction in ad costs should allow Momo to grow without sacrificing profit margins. Dating, a significant part of momo's business fell as people quarantined until the pandemic started to come under control in May of 2020. Momo paid ~$800M for TanTan in 2018. Beyond TanTan, Momo's business segments consist of live streaming, value-added services (virtual gift giving & paid subscriptions), marketing, and gaming. The combined valuation estimate for dating, live-streaming, and VAS is $4.6B.
Momo’s Q4 and 2020 Financial Results, Revenue Impacted by Covid-19
MOMO – Mar 25 – Q4 2020 net revenues decreased by 19% YOY to RMB3,795.2M ($581.6M). Net income decreased to RMB651M ($99.8M) from RMB1,055.9 in the same period of 2019. Monthly Active Users on Momo apps were 113.8M in Dec 2020, compared to 114.5M in Dec 2019. Total paying users, including 3.8M paying users of Tantan, were 12.8M, compared to 13.8M in Q4 2019. Full Year 2020 revenues decreased by 11.7% YOY to RMB15,024.2M ($2.3B). Net income was RMB2,103.5M ($322.4M), compared with RMB2,970.9M during the same period of 2019.
Chinese Women in Big Cities Prefer Online Dating
WOMENOFCHINA – Mar 11 – According to Tantan's recent survey of 4K women in Beijing, Shanghai, Guangzhou and Shenzhen, dating apps have become an essential social tool for single women in metropolitan areas. The higher a woman earns, the more active she is in online dating. 40% used Tantan to become acquainted with their dates, 15% were in love more than once via Tantan, and 42% used Tantan to make friends.
by Xu Lin
See full article at WomenofChina
Tantan Evolves From Dating App to Social+
POJOK BANDUNG – Dec 25 – Tantan, the Chinese dating app, is planning to pivot from its dating app status to a social platform to reach a new generation of users. With the Social+ strategy, users will experience new features such as Social+ Live Streaming and Mobile Games.
Momo’s Q3 Results: Revenue Down 15%, Net Income Down 50%
PR NEWSWIRE – Dec 1 – Q3 net revenues decreased by 15.4% YOY to RMB3,767M ($555M). Net income attributable to Momo decreased ~50% to RMB457M ($67M). Monthly Active Users on Momo apps were 113.6M in September 2020, compared to 114.1M in September 2019. Total paying users of live video service and value-added service, including 4.1M paying users of Tantan, were 13M, compared to 13.4M last year's Q3, which included 4.5M paying users of Tantan. Live video service revenues were $350M, down 27% YOY.
Top Grossing Dating Apps Worldwide for June 2020
SENSORTOWER – July 30 – The top grossing dating app worldwide for June 2020 was Tinder with $64.8M in user spending. ~41% of Tinder's revenue was from the US, followed by 6% from the UK and 6% from Germany. Bumble was the second highest earning dating app worldwide with more $16.5M in gross revenue. ~76% of Bumble's revenue was from the U.S., followed by 7% from the UK. The next top grossing app was Pairs, followed by MeetMe and Tantan.
Top Grossing Dating Apps Worldwide for May 2020
SENSORTOWER – July 3 – The top grossing dating app worldwide for May 2020 was Tinder with ~$65.3M in user spending. ~41.5% of Tinder's revenue was from the U.S, followed by 5.6% from UK and 5.4% from Japan. Bumble was the second highest earning dating app worldwide for May 2020 with close to $16M in gross revenue. The next top grossing app was Pairs, followed by MeetMe and Tantan.
