Production|Sanyan Finance
In the past year, Momo has released dozens of pan-social applications, and there has also been a phenomenon-level product ZAO.
On March 19th, Momo handed in his 2019 answer sheet. The financial report shows that in the fourth quarter of 2019, Momo's net revenue reached 4.689 billion yuan (about 673.4 million US dollars), a year-on-year increase of 22%. Not measured in accordance with US GAAP, the net profit attributable to Momo’s parent company in the fourth quarter of 2019 was 1.252.5 billion yuan (approximately US$179.9 million).
In 2019, Momo's net revenue reached 17.011 billion yuan (approximately US$2.4441 billion), a year-on-year increase of 27%. Not measured in accordance with US GAAP, the net profit attributable to Momo’s parent company was 4.493.3 billion yuan (approximately US$645.4 million), compared with 3.462.1 billion yuan in the same period last year.
In fact, both this financial report and Momo’s own iteration or new product layout revolve around the word “social”.
Live broadcast is still the pillar, but things are beginning to change.
The financial report shows that the net profit attributable to Momo’s parent company for 2019 was 4.493.3 billion yuan (about 645.4 million U.S. dollars), compared with 3.462.1 billion in the same period last year. Yuan, a year-on-year increase of 29.8%. In the fourth quarter of 2019, the net profit attributable to Momo's parent company was 1.252.5 billion yuan (approximately US$179.9 million), which was profitable for 20 consecutive quarters.
As the mainstay of Momo’s revenue, the live broadcast business remains robust.
data shows that the live broadcast revenue in 2019 was 12.45 billion yuan, accounting for 73.16% of the total revenue. In the fourth quarter of 2019, Momo's live broadcast service revenue was 3.383.5 billion yuan, accounting for 72% of the quarter's revenue.
Actually, since Momo launched its live broadcast service in 2015, the live broadcast business has become the pillar of Momo.
It is reported that starting from Q2 2015, Momo's revenue has achieved rapid growth. By the end of 2016, Momo's revenue had reached US$550 million, an increase of more than three times from the previous year; net profit reached US$150 million, a year-on-year increase of more than 9 times.
According to the current income scale, Momo has become the second largest online social platform in China, higher than Sina Weibo. It is reported that Weibo achieved a revenue of 3.266 billion yuan in the fourth quarter of 2019, which is not as good as Momo.
Momo has also achieved growth in user scale and paying users.
In terms of users, Momo has always maintained a steady growth in user scale. In December 2019, the monthly active users of the Momo Main App were 114.5 million, compared with 113.3 million in the same period of the previous year, a year-on-year increase of 1.1%.
In terms of paying users, in the fourth quarter of 2019, the total number of paid users of Momo’s live broadcast services and value-added services reached 13.8 million (including 4.5 million paid users of Tantan), compared with 13 million in the same period last year (including Tantan has 3.9 million paying users), compared with 7.8 million in 2017. Compared with platforms such as Douyu and Huya, the proportion of paying users is higher.
One of the highlights is the growth of Tantan's paid users, from 3.9 million to 4.5 million. In 2019, Tantan's paid users increased by 15.4% compared to 2018.
In addition, compared with live broadcast platforms such as Huya and Douyu, Momo's profitability is also quite outstanding. Moreover, the proportion of live broadcast revenue in Douyu and Huya's total revenue is higher than that of Momo, and the revenue model is relatively simple.
According to the financial report of Douyu, the total net revenue of Douyu in 2019 was RMB 7.283 billion, of which the net revenue of Douyu in Q4 of 2019 was RMB 2.062 billion. In Q4 2019, Douyu live broadcast revenue increased by 84.1% year-on-year to 1.89 billion yuan, accounting for approximately 92% of revenue.
In the fourth quarter of 2019, Huya’s total revenue increased by 64.0% year-on-year to RMB 2.468 billion; in terms of revenue structure, live broadcast revenue still accounted for the bulk, and Huya’s live broadcast revenue in Q4 was 2.346 billion, accounting for the proportion of live broadcast revenue.About 95%.
Compared with Huya and Douyu's "big anchor" strategy, Momo tends to have a more long-tailed anchor form. Combined with its own social attributes, it not only reduces operating costs, but also brings more flow.
In the past year, Momo has more effectively supported the conversion of paid platforms through the introduction of new gameplay in the live broadcast room, the transformation of the anchor and the system, and so on.
The one change about the live broadcast business is that the proportion of Momo's live broadcast business in total revenue is gradually declining, and the proportion in 2019 is 6.76% lower than that in 2018. At the same time is the growth of value-added services.
The growth of value-added services is precisely the product of the improved social experience of Momo.
The proportion of other businesses has increased. Social is true love.
Since entering the live broadcast field, live broadcast revenue has always occupied a core position in Momo, but other businesses are growing rapidly.
In 2019, Momo's value-added business had annual revenue of 4.11 billion yuan, which accounted for 24.13% of total revenue, an increase of 10.08% from 2018. In the fourth quarter, live broadcast revenue was 3.383.5 billion yuan, accounting for 72% of total revenue for the quarter, a year-on-year increase of 14%; value-added service revenue was 1.181.9 billion yuan, a year-on-year increase of 65%.
It can be seen from the financial report that Momo's revenue structure is continuously optimized, and the proportion of value-added services business has further increased, becoming a new growth driver.
It is understood that Momo’s value-added services include virtual gifts on non-live broadcast platforms and membership subscription income. Among them, membership subscription income mainly comes from Tantan. The
financial report pointed out that the increase in revenue from value-added services was mainly due to the introduction of more features and more payment solutions to improve the social experience of users, thereby driving the continuous growth of the virtual gift business. The impact of subscription revenue growth.
In addition to live broadcasts, Momo has successively launched functional experiences such as Werewolf Killing, Car Parking Robbery, Tiantian Manor, etc., continuously enriching social scenes and entertainment experiences, and promoting user interaction.
This means that the improvement of Momo's social experience has been the most direct return, and users are buying it. This is also consistent with the social strategy that Momo has always adhered to.
Although live broadcast is Momo's largest source of income, Momo does not consider itself a live broadcast company, but is positioned as a social platform company.
In fact, compared with live broadcast platforms such as Douyu and Huya, we can see that Momo's live broadcast revenue is already very small. The continuous growth of value-added services is an important feature that distinguishes Momo from other live broadcast platforms.
For a long time, Momo has been walking around the social line. The decrease in the proportion of live broadcast income is a manifestation of social strengthening.
In terms of product matrix layout, Momo has also been working hard in the pan-social field.
In 2018, Momo acquired Tantan to further occupy the stranger social market. Momo is dominated by male users and Tantan is dominated by female users, both of which have strengthened Momo's dominance in the social field of strangers.
Since 2019, Momo has released dozens of pan-social apps.
Among them, there are many social apps such as chat app "Qiaoqiao", camera product "Doki Camera", photo sharing app "MEET Album", social platforms "It's Him", "Cue" and "Hertz", etc. The new products involve many types such as chat applications and picture sharing.
In addition, Momo also incubated the music social product "Weaving Music" in January this year, and users can sing live broadcasts to get rewards.
In addition to social networking, Momo is also constantly experimenting in the field of short videos.
In August last year, Momo launched the short video application ZAO. The novelty of Ai's face-changing function was welcomed, and it once topped the top of the major application malls. It is undeniable that Momo has excellent strength in product innovation.
's continuous attempts in the social field are a vivid manifestation of Momo's social heart. Social is where there are people, and social products must be constantly changing over time.
On the one hand, for MoThere are still huge opportunities in the third- and fourth-tier sinking markets. As Momo continues to penetrate deeper and deeper markets, there are still huge development prospects in the future.
On the other hand, Momo's layout in a more detailed vertical market by improving functions, incubating, and investing in new products is another consideration for socialism.
Regardless of whether it is based on existing product update iterations or laying out potential markets, Momo has spotted the social networking track. Regarding the next path, Tang Yan, Chairman and CEO of Momo, said: “In 2020, we will continue to improve user experience and promote product innovation to seize more growth opportunities.”
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