Shulou(Shulou.com)11/24 Report--

CTOnews.com August 31 news, this afternoon, Meitu issued an interim results announcement for the six months ended June 30, 2022.

According to the report, Meitu achieved an operating income of 972 million yuan in the first half of the year, an increase of 20.5% over the same period last year; a net loss of 266 million yuan, compared with a loss of 129 million yuan last year; and the adjusted net profit attributable to company owners increased by 7.9% to 36 million yuan. Strong growth in VIP subscriptions has offset the decline in online advertising revenue.

Meitu said the number of monthly active users returned to growth, reaching 2.409 billion in June 2022, an increase of 4.5 per cent over December 2021. The growth is mainly due to Meitu, which has also contributed to the growth of the new video-based application Wink.

CTOnews.com learned that Meitu reported that VIP subscription business became the largest source of revenue, reaching 339.2 million yuan in the first half of 2022, an increase of 61.4 percent over the same period last year.

Meitu said in the announcement that compared with the advertising model, VIP subscription aligns its interests with those of its users because it generates more revenue by providing a better user experience rather than disturbing users with more ads. High gross margins and large penetration of VIP subscriptions also mean that the business is likely to scale in the next few years, driving profitability in the foreseeable future.

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