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GOOGL - Meet Group Monetization Of Explicit Live Cam Content Threatens App Store Revenues
Alphabet Inc.
Introduction
We first wrote about Meet Group (MEET) in August 2016, stating our belief that the company's ad business (at the time 90%+ of revenues) was likely to implode due to company's highly suspect content. Our forecast appears to have played out. While it is hard to pinpoint the extent of the decline in MEET advertising revenues since our story due to the company's aggressive M&A binge, we note that in 3Q17 (one year after our story), MEET disclosed that mobile CPMs at MeetMe and Skout were down more than 40% year over year