Do you know? Being single can also create an economy!
According to the "China Singles Economic Report" released by Nielsen, as the number of singles increases year by year, the ability of this group should not be underestimated in the future, or it will become a new consumer market. Seeing this, some people may ask, is the power of the single population really so great? The truth is also as the report says, because according to relevant data, the number of singles in China has reached 240 million.
Such a huge group of people, the demand and consumption they can create can be imagined, after all, one person can raise 240 million yuan with one dollar. In the face of this situation, many businesses and enterprises have gradually turned their targets to the single group. When a lucrative emerging market emerges, a new economic model associated with it is born.
The rise of various social software
After entering the twentieth century, not only the improvement of people's living standards, but also the Internet began to prevail in China. At this time, the single group no longer only pursues material pleasures as in the past, and spiritual pleasures begin to become what they crave most. At this time, with the Internet as the position, a variety of dating software, such as grass on the fertile land, have begun to emerge, such as QQ, Happy Network, Facebook, WeChat, Weibo and so on.
It is reported that as of 2020, in the social software ranking of monthly active users on the Internet, 600 million monthly active users on QQ and 1 billion monthly active on WeChat ranked first, and the ultra-high number brought rich profits to Tencent. According to statistics, Tencent's social network revenue in 2020 was 108.1 billion yuan.
Although Tencent is currently the boss of social software, most of its users use the software to contact relatives, colleagues, and friends. Very few singles are willing to contact strangers to make friends on WeChat and QQ. It is precisely because the stranger dating market is blank, many companies have also begun to do this kind of planning, the most famous of which is Momo.
The king of strange dating software, exposed the "clear price" incident
Momo's experience can be said to be breathtaking, from its inception to the successful landing on the NASDAQ, it took only three years. After the listing, Momo's development has not stopped, it is more like driving into the high-speed lane and riding the dust on the Internet. Such a rapid action has been rated by the United States as the world's fastest growing company.
Just when everyone thought that Momo was about to become another big Internet giant, bad news for Momo was circulating on the Internet. Momo asked for rectification for spreading bad information. The following year, an article about Momo published by the media exposed Momo's business with "clear price marking" in front of the stage, which instantly triggered a hot discussion on the Internet.
According to Momo's 2020 financial report, Momo's operating income was 15.024 billion yuan, and the net profit attributable to the mother was 2.8962 billion yuan, a year-on-year decrease of 15.9%. Not only that in the stock market, Momo's stock price was also miserable, plummeting by 15%, and the market value shrank to 3.128 billion.
Momo changed direction
Faced with such a situation, in order to save the situation, Momo began to take the initiative to change direction and march towards the short video industry. However, unfortunately, due to the late entry, the market has been occupied by Douyin and Kuaishou, and Momo does not have much achievement in this market.
In order to break the situation, Momo once again reversed its direction and marched into the live broadcasting industry, first spending a huge amount of $760 million to acquire Tantan. Using it as a springboard, he quickly gained a foothold in the live broadcasting industry and gained huge revenue. According to public information, Momo's revenue has grown rapidly due to live broadcasting, with live broadcast service revenue of 250 million yuan in the first quarter of 2021, while the revenue of live broadcast services in the first quarter of 2020 was 6.1 million yuan, a year-on-year growth rate of more than 40 times.
Nowadays, the live broadcasting industry has become the bulk of Momo's revenue, although the benefits are good, but with the formation of the live broadcast form, the market has lacked the potential to continue to tap. According to Momo's financial report for the first quarter of 2021, Momo's monthly active users of social software reached 115.3 million. Although it is good, combined with the number of monthly active users in previous years, it has always maintained about 100 million people, which is really powerless.
Now look at Momo, although it can still have good revenue and profits, after all, according to Momo's latest financial report, its revenue is 3.4706 billion yuan and net profit is 461.7 million yuan. And in order to have a new start, Momo's parent company will also change the name of Chinese to Zhiwen Group. But if it can't solve the biggest obstacle in the live broadcasting industry, "scraping the edge ball", then its road ahead will be extremely bumpy. I believe that Momo can break through obstacles in the future and set out for a better tomorrow.
I don't know who has used Momo, how does it feel?