Momo’s intensifying monetization efforts pay off
The heavy investment in the peer app acquisition and livestreaming input has seemingly paid off for the social media platform Momo, which focuses on building connections between strangers. On Wednesday it reported solid revenue gains in 2018 of RMB 13.4 billion ($1.9 billion), up 51% from 2017. The improvement in monetization primarily comprised of membership subscriptions and virtual gift purchasing which were adopted widely within online broadcasting services. One of the biggest cost surges happened in the latter part of last year with the consolidation of a then competitor, Tantan, which was in a bid to increase its market share in the dating app market.