One of the leading social app, Momo reported total net revenues of $265.2 million in the first quarter of 2017, an increase of 421% from $50.9 million in Q1 2016.
Momo’s live video broadcasting, launched in Q3 2015, generated revenues of $212.6 million in Q1 2017, accounting for 80.2% of its total net revenues. The rapid growth in live video revenues was mainly because of the increase in paying users. Paying users of live video service for Q1 2017 reached 4.1 million.
Its total value-added service revenues were $22.9 million in Q1 2017, an increase of 54% from $14.9 million during the same period of 2016, primarily driven by:
- the increase of virtual gift service revenues
- the increase of membership subscription revenues as a result of the increase in average revenues per paying user, as more members bought our premium VIP package
- the increase in the total number of members.
Momo saw $17.9 million in mobile marketing revenues in Q1 2017, an increase of 45% from $12.4 million in Q1 2016. The growth in mobile marketing business was driven by an increase in effective cost per mille (eCPM) of its news feed advertising service.
Mobile games revenues reached $11.6 million in Q1 2017, an increase of 56% from $7.4 million during Q1 2016. Net income attributable to Momo Inc. was $81.2 million in Q1 2017, compared to $7.1 million during the same period last year.
Momo’s monthly active users were 85.2 million in March 2017, compared to 72.3 million in March 2016. Its VIP members increased to 3.6 million in Q1 2017 from 3.2 million in Q1 2016.