Spark Networks Begins Monetization of Zoosk Live!
Spark Networks SE (NYSE American: LOV) has introduced revenue generation from its new service, Zoosk Live!, a livestreaming platform developed in partnership with ParshipMeet Group. This service enables users to engage in interactive livestreaming activities, such as speed dating games and global connections through video comments. It marks Spark's entry into the social discovery sector, which is anticipated to grow rapidly. The company is committed to exploring new avenues for user engagement and personal connection, expanding beyond traditional online dating.
- Introduction of Zoosk Live! enhances user engagement with interactive features.
- First step for Spark Networks into the rapidly growing social discovery market.
- None.
BERLIN, July 7, 2021 /PRNewswire/ -- Spark Networks SE (NYSE American: LOV), a leading social dating platform for meaningful relationships, today announced that the company has begun to record revenue from Zoosk Live! a livestreaming service offered via a partnership with ParshipMeet Group.
Zoosk Live! is the result of Spark leveraging ParshipMeet Group's Live video Platform as a Service (vPaaS) product, which powers some of the world's largest livestreaming video dating apps by monetizing user videos.
The service offers a range of livestreaming options, including challenges, events, and interactive features like NextDate™, a speed dating game where Zoosk members can take a starring role in front of a livestreaming audience. Members can also forge connections with people all around the world by publicly commenting on videos and rewarding streamers with likes and follows. The new service is currently available to all Zoosk iOS and Android app users in the US, UK, Canada, and Australia. For more information, please visit; Spark Live! Info.
The launch of Zoosk Live! marks Spark Networks' initial step into the emerging social discovery sector. Social discovery is the business of connecting people with mutual interests, such as gaming, entertainment, travel, etc. The sector is closely related to the dating industry but not limited to it. There are some that believe Social discovery will grow to be twice the size of the dating sector.
"We're excited to bring livestreaming to Zoosk users, allowing them to connect with others in a fun social environment," said Eric Eichmann, CEO of Spark Networks. "This launch reinforces our commitment to exploring new areas of personal connection while beginning our expansion beyond online dating and into the emerging social discovery space."
Spark Network's VP of Product, Anika Mueller, says: "We're launching Zoosk Live! at a fascinating time for streaming technology. Events over the last year and a half have led to people exploring the social possibilities of live video like never before. We anticipate that people will continue embracing this tech even as they return to in-person meet ups."
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks' performance or achievements to be materially different from those of any expected future results, performance, or achievements. These statements include without limitation statements regarding the expected increase in revenue and user engagement as a result of Zoosk Live!; statements regarding the launch of Zoosk Live! reinforcing Spark Network's commitment to exploring new areas of personal connection while beginning its expansion beyond online dating and into the emerging social discovery space; and statements regarding Spark Network's anticipation that people will continue embracing streaming technology even as they return to in-person meet ups.
Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "believes," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, the risks related to the degree of competition in the markets in which Spark Networks operates; risks related to the ability of Spark Networks to retain and hire key personnel, operating results and business generally; the timing and market acceptance of new products introduced by Spark Networks' competitors; Spark Networks' ability to identify potential acquisitions; Spark Networks' ability to comply with new and evolving regulations relating to data protection and data privacy; general competition and price measures in the market place; risks related to the duration and severity of COVID-19 and its impact on Spark Networks' business; and general economic conditions. Additional factors that could cause actual results to differ are discussed under the heading "Risk Factors" in Spark Networks' Annual Report on Form 10-K for the year ended December 31, 2020 and in other sections of Spark Networks' filings with the Securities and Exchange Commission ("SEC"), and in Spark Networks' other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement except as required by law.
About Spark Networks SE:
Spark Networks SE is a leading global dating company, listed on the New York Stock Exchange American under the ticker symbol "LOV," with headquarters in Berlin, Germany, and offices in New York and Utah. The Company's widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, among others. Spark Networks SE in its current form is the result of the merger between Affinitas GmbH and Spark Networks, Inc. in 2017 and the addition of Zoosk, Inc. in 2019. Spark has approximately one million monthly paying subscribers globally.
About ParshipMeet Group
ParshipMeet Group is an international market leader in online dating. With its uniquely diverse business approach, the company covers the whole spectrum of the online dating market, ranging from social dating with a strong entertainment component based on live video streaming, to serious matchmaking. ParshipMeet Group's brand portfolio consists of internationally successful and established brands with complementary strengths. Social dating and entertainment apps MeetMe, Skout, Tagged, GROWLr, and LOVOO focus on social connections, entertainment, and community. Matchmaking services such as eharmony or European-based Parship use scientific methods to help people find their partner for a compatible, happy long-term relationship. Headquartered in Hamburg, Germany, the company currently employs a workforce of more than 1,100 in eight offices worldwide. www.parshipmeet.com
For More Information
Investors:
Christopher Camarra
Vice President of Investor Relations
christopher.camarra@spark.net
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SOURCE Spark Networks SE
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