Changing the landscape of video live streaming and dating apps, as users move to new options
United States Press Group – The art of bonding with new friends or even potential romantic partners has changed dramatically over the past decade. This shift has accelerated dramatically in the social sphere of the “new normal” after lockdowns and other measures kept people apart. According to a recent 2022 State of Mobile Reportthe mobile dating market doubled in size between 2018 and 2021. During the pandemic, singles and tired young people have been noticeably give up most popular dating apps to like tinder of Match Group, Inc. (NASDAQ:MTCH), Tantana from Hello Group Inc. (NASDAQ: MOMO), and Bumblebee by Bumble, Inc. (NASDAQ:BMBL), to rising star platforms such as Bilibili Inc. (NASDAQ:BILI) and Hello Pal International Inc. (CSE: HP) (OTC: HLPPF).
Gradually develop its proprietary suite of mobile applications, Hello Pal International Inc. (CSE:HP) (OTC:HLLPF) has grown from its beginnings as a language learning and travel app into a social interaction juggernaut that has a unique specialty in cryptocurrency mining.
Recently the company spear its latest DogeChat and DoggeChat apps, which successfully bridge the lure of live video streaming, cryptocurrency transactions, and one-on-one VIP chat interactions.
“We expect these applications to be very synergistic with our current livestreaming and crypto-mining operations,” said KL Wong, Founder and Chairman of hello buddy. “They will not only bring new users from different markets into our existing ecosystem, but will also allow us to begin implementing our goal of making cryptocurrency use more widespread around the world, starting with our users.”
Where DoggeChat is expected to launch first with payments made in fiat currencies through Apple Pay and Google Pay, DogeChat payments will be made in DOGE and other cryptocurrencies.
Now, live stream creators can interact one-on-one with their audience members at their own discretion and get paid for their valuable time (even in crypto!). After a brief free period, call originators pay the call recipient per minute, which incentivizes longer conversations.
Back in 2021, hello buddy made history by becoming the market benchmark first listed company focused on mining Litecoin (LTC) and Dogecoin (DOGE). The response to the announcement was swift, causing traffic to spike so intensely that it temporarily caused a website crash.
Beyond its already well-used Chinese market, hello buddy quickly grew its live streaming, language learning and social crypto platform, and reached new milestones for overseas live streaming, including gaining over 50,000 live streamers in the UAE States, Saudi Arabia, Egypt and Bahrain.
“Our marketing and technical team has made incredible gains in expanding our user base in the Middle East over the past year,” said KL Wong, President and CEO of hello buddy. “Live streaming business exceeded our expectations outside of China, with some key metrics accounting for nearly two-thirds of business. Our focus now will be to similarly grow in other parts of China. Southeast Asia, other Middle Eastern countries and India.
Although hello buddy started its journey with strong support in the Chinese market, the integration outside has been extremely successful, with 2000-2500 hours of live broadcasting per day compared to 1000-1200 hours of Chinese live broadcasting per day. In the business model, there are gifts, of which 1,200 give gifts per day in the Middle East market, compared to 700 per day in China.
It is expected that these live streaming operations will grow even more after the successful launch of DoggeChat and DogeChat. One-to-one video chat apps will grow Hi buddies international platform thus increasing the exposure of the live broadcast in new regions.
China’s livestreaming crackdown hurt first video game streaming platform Bilibili Inc. (NASDAQ:BILI), down 11.5% in Hong Kong. However, it quickly rebounded with a price increase of more than 13% as well as other Chinese tech stocks, as the internet crackdown was not as severe as initially thought.
bilibili made money with international retailers and brands sold in China. According to the company’s financial report, the average number of daily active users (DAUs) reached 62.7 million in the second quarter of 2021, an increase of 24% compared to the same period in 2020. With rapid growth in market share, marketers and brands are paying more attention to this platform. Chinese Gen Z and other young people are increasingly loyal to the platform as they entertain, learn, communicate and post on this emerging long-form video platform.
Beyond its flagship tinder app that has become synonymous with the direction you swipe, Match Group, Inc. (NASDAQ:MTCH) also has other applications such as Abloand French dating app Meeticboth of which are designed for meeting strangers.
Specialized in organizing occasions for foreigners to meet, Match expects its first quarter 2022 revenues to be between $790 million and $800 millionindicating an annual growth of 18 to 20%.
Thanks to the introduction of Tinder Litedesigned to expand Match of international presence, it seems that the company has a new key catalyst. tinder has extended its in-profile video feature to more members globally. Videos inside tinder allow members to express themselves better, learn more about others and find the right person.
Parent company of popular apps Bumblebee, badooand Fruitz, Bumble, Inc. (NASDAQ:BMBL) also saw huge growth in 2021, closing strong with a 42% increase in revenue in Q4 2021 Bumblebee alone, and increasing the number of paying users of the app by 29%.
Bumblebee also added popular French matchmaking app Fruitz earlier in the year, making the company first acquisition.
“We are delighted to deliver another quarter of strong revenue and Adjusted EBITDA growth and are delighted to add Fruitz to our family of market-leading global apps,” said Whitney Wolfe Herd, Founder and CEO of Bumblebee. “In our first year as a public company, and with our mission at the forefront of everything we do, we successfully executed on our key strategic priorities: drive scale and engagement, increase monetization and improve profitability.
Originally calling his app Tantan the “Tinder of China”, Hello Group Inc. (NASDAQ:MOMO) decided to abandon its dating app earlier this year. Designed to harness AI and machine learning to make better matches, the
“2021 has been a busy year for us,” CEO Wang Li said in a brief statement accompanying hello group 2021 Year-End Results. “Despite a variety of external challenges, our team was able to methodically execute on our strategic priorities and delivered strong results.”
Tantan’s revenue fell more than 40% to 437 million yuan ($69 million) in the fourth quarter of 2021 from 741 million yuan a year earlier. hello group added that Tantana had 2.5 million paying users at the end of the year, down 14% from just three months earlier, when it had 2.9 million users.
Source of the article: https://usanewsgroup.com/2020/11/16/live-streaming-is-take-the-market-by-storm/
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