Momo announced its net revenues totaled US$435.1 million in Q1 2018, an increase of 64% from Q1 2017. Net income attributable to Momo Inc. increased by 59.6% to $129.9 million in Q1 2018 from $81.2 million in Q1 2017.

Momo obtained 103.3 million monthly active users in March 2018. Among which, total paying users of live video service and value-added service, without double counting the overlap, were 8.1 million.

Revenues from live video service totaled US$371.5 million, an increase of 74.8% from US$212.6 million in Q1 2017. The rapid growth in live video revenues was contributed by the increase in the quarterly paying users, which was 4.4 million for Q1 2018, as well as, the increase in the average revenues per paying user per quarter.

Value-added service revenues mainly include membership subscription revenues and virtual gift revenues. The revenues of total value-added service grew by 62% year-on-year to US$37.0 million in Q1 2018. Total paying users of our value-added service were 5.1 million.

Mobile marketing contributed US$18.7 million to total revenues in Q1 2018, a 5% increase year-on-year. While revenues derived from mobile games down by 43% from Q1 2017, which was $6.6 million in Q1 2018.

Momo closed the acquisition of 100% equity stake Tantan Limited in May by borrowing US$300 million bank loan from the domestic commercial bank.

By Q2 2018, the company expects total net revenues to be US$470.0 million and US$485.0 million, representing a year-over-year increase of 51% to 55%.

China social media users compared: Weibo vs WeChat vs Momo

Read more: WeChat Mini-Programs status report 2018

China online dating market totaled 1.207 billion yuan (US$180 million) in Q2 2017 with a growth rate of 39.2% YoY or 21.9% QoQ.

The top four online dating platforms (Zhenai, Youyuan, Jiayuan and Baihe) account for 80.1% total market share, 2.3 percentage higher than Q1 2017.

China’s online dating user spend an average of 2.45 hours in Q2 2017. Jiayuan user spent the longest, 4.9 hours per quarter.

The number of active online dating users in China dropped to 23.85 million in January 2017 from 26.24 million in January 2016 according to data from QuestMobile.

Dating was a 9.44 billion yuan market in China in 2016 and is expected to exceed 10 billion yuan in 2018. Online dating market reached 3.44 billion yuan in 2016 and will grow to 4.4 billion yuan in 2019 according to iResearch.

Top Online Dating Apps in China

Close to 90% of Blued users are male as it’s the leading gay dating app in China.

Mobile apps from traditional online dating background who focus on “marriage” lead in China’s tier-1 cities, including Jiayuan, Zheai, and Baihe. Users of these apps have the highest spending power in China.

Mobile apps with the most young users are Xiao Enai, Wei Ai, and Blued.

Mobile apps with over 2 million monthly active users (“MAU”) in Jan 2017 include Xiao Enai, Blued, Jiayuan, and Tongcheng Relian.

The top mobile dating apps by total MAUs in January 2017 are Xiao Enai, Blued, Jiayuan, Tongcheng Relian, Wei Ai, Baihe, Zhenai, Youyuan Wang, Kuai Yueai, and Lianai Shenqi.

Also read: China’s mobile apps market insights in 2016

Momo, one of the top mobile social networking apps in China and gone public in 2014, had monthly active users of 72.3 million in Q1 2016 from 78.1 mn in Q1 2015. However, its net revenues increased by 93% year over year to $50.9 million. Momo mobile marketing revenue continued its strong momentum, growing more than 100% year over year.

Joining the live broadcasting trend of many Chinese internet companies, momo launched this business late last year. It further opened up the service to allow every individual user to broadcast live anytime, anywhere with his or her mobile device or PC.

In April 2016, Momo introduced a major update, where live broadcasting is featured as a separate tab on its mobile app, and launched a standalone application called ‘Hani’ for live broadcasting business to grow more independently.

Also read: China Social Media Users Insights in 2015

China online dating market in 2013 totalled RMB1.59 billion (US$260 million) according to Analysis International, who expects China’s online dating market to grow by 30% to RMB2 billion (US$320 million).