Early results demonstrate increase in mobile CPMs
NEW HOPE, Pa. – MeetMe®, Inc. (NYSE MKT: MEET), the public market leader in social discovery, announced that it has started delivering its mobile inventory on the Pinsight Media+™ platform.
“The Pinsight Media+ agreement reflects our unique market position, favorable user demographics, and our strong advertising units. With this agreement in place, we believe our mobile ad rates will be significantly better on average than in 2013, and will form a strong foundation for our long-term growth strategy.”
Geoff Cook, Chief Executive Officer of MeetMe, said, “We are pleased to report the smooth integration of the Pinsight Media+ platform. Early data suggests mobile CPM gains of 15% or more compared to our average mobile CPM rates in the fourth quarter. If this arrangement had been in effect for the full year 2013, it would have driven an incremental $4.1 million in mobile revenue over the course of the year. Currently, more than half of our mobile app users are exposed to the platform and we expect that to ramp to 100% within the coming weeks.”
In November of this year, MeetMe entered into a contract with Pinsight Media+ under which it agreed to sell substantially all of its mobile advertising inventory on the Pinsight Media+ platform at guaranteed CPMs through calendar year 2014.
Bill Alena, Chief Revenue Officer of MeetMe, said, “The Pinsight Media+ agreement reflects our unique market position, favorable user demographics, and our strong advertising units. With this agreement in place, we believe our mobile ad rates will be significantly better on average than in 2013, and will form a strong foundation for our long-term growth strategy.”
Pinsight Media+ manages billions of ad impressions across its owned and operated properties. MeetMe’s agreement with Pinsight Media+ does not include web-based revenue streams, other sources of mobile revenue such as virtual currency, subscriptions, and other mobile apps, and MeetMe’s Social Theater product.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in the US and the public market leader for social discovery (NYSE MKT: MEET). MeetMe makes meeting new people fun through social games and apps, monetized by both advertising and virtual currency. With 60 percent of traffic coming from mobile, MeetMe is fast becoming the social gathering place for the mobile generation. The company operates MeetMe.com and MeetMe apps on iPhone, iPad, and Android in multiple languages including English, Spanish, Portuguese, French, Italian, German, Chinese (Traditional and Simplified), Russian, Japanese, Dutch, Turkish and Korean.
