Momo, a popular mobile social networking platform in China, saw 113.3 million monthly active users in December 2018, compared with 99.1 million in December 2017. Its total paying users of live video service and value-added service, excluding the overlapping and including 3.9 million paying users of Tantan, were 13.0 million for the fourth quarter of 2018, compared with 7.8 million in Q4 2017.
In 2018, Momo’s net revenues increased by 51% year-on-year to 13,408.4 million yuan (US$1,950.2 million), primarily driven by the significant increase in net revenues from live video service and value-added service. Non-GAAP net income was 3,462.1 million yuan (US$503.5 million), compared with 2,483.1 million yuan in the prior year period.
In the fourth quarter of 2018, its net revenues were 3,843.9 million yuan (US$559.1 million), an increase of 50% year-on-year.
- live video service revenues were 2,959.2 million yuan (US$430.4 million), an increase of 36% year-on-year;
- value-added service revenues that mainly include membership subscription revenues and virtual gift revenues surged by 272% year-on-year to 722.4 million yuan (US$105.1 million);
- mobile marketing revenues were 122.1 million yuan (US$17.8 million), a decrease of 15% year-on-year.
- mobile games revenues were 25.5 million yuan (US$3.7 million), a decrease of 44% year-on-year;
- revenues from other services primarily consisted of revenues from Phanta City, a TV variety show co-produced by Momo.
Cost and expenses were 3,195.7 million yuan (US$464.8 million), an increase of 65% year-on-year.