User Metrics in Test Markets Show Significant Early Adoption and Engagement
NEW YORK, NY / ACCESSWIRE / July 12, 2017 / Snap Interactive, Inc. ("SNAP," the "Company," "we," "our," or "us") (OTCQB: STVI), a leading provider of live video social networking and interactive dating applications, today announced the nationwide rollout of its newest platform, 50more, a dating application targeting adults over the age of 50. The new application is available on desktop and mobile web at https://www.50more.com.
What is 50more?
50more is a dating platform built to celebrate life and the enduring potential for romance and enrichment for singles over 50 years of age. The foundation of the service is creating higher quality introductions powered by a unique matching tool based on the key factors that produce fruitful connections: Vitality, Openness, and Culture (VOC). VOC-driven matching is based on scientific principles, and we believe effectively brings people together with similar interests, passions, and future goals. The 50more application includes intuitive features for the creation of profiles that enable users to easily find, connect, and communicate with others, offering a superior user experience.
Why 50+ dating?
Singles over 50 are rapidly adopting online dating, but there are few services that directly address their specific needs. Nielsen marketing insights predicted that by 2017, 50 percent of the US population will be over the age of 50 and this group will control 70% of the disposable income in the US. According to Pew Research, online dating market penetration by 55- to 64-year-olds doubled in the two years between 2013 and 2015.
SNAP has achieved significant pre-launch adoption and engagement on 50more and has recorded the following user metrics:
- 10,000+ registered users
- 7,500+ matches created
- 500,000+ cumulative matching questions answered
"The response from the limited beta launch of 50more in the second quarter of 2017 has been overwhelmingly positive. Test market data showed strong user engagement and monetization, affirming our product thesis and providing the evidence and learnings we needed for a full launch. What is particularly exciting is the large investment users made in filling out their matching profile, averaging approximately 50 detailed questions per user, demonstrating a high commitment from beta customers in finding higher quality matches through our product," said Alex Harrington, SNAP's Chief Executive Officer. "In an age of swiping dating apps with negligible profile content, we believe 50-plus singles are signaling that they are tired of impersonal and superficial matching. 50more is one of the only interactive dating services to directly address the 50-plus audience with a solution tailored to their needs."
Mr. Harrington continued, "We believe the 50-plus segment is one of the fastest growing and most underserved segments of the online dating industry. By leveraging FirstMet, our prominent interactive dating brand that serves the full age spectrum, we now can cross-sell users with multiple brands. The two dating applications share a common technology platform that is highly scalable and requires limited incremental operational cost to add users, active subscribers, or new features."
About Snap Interactive, Inc.
Snap Interactive, Inc. is a leading provider of live video social networking and interactive dating applications. SNAP has a diverse product portfolio consisting of nine products including Paltalk and Camfrog, which together host one of the world's largest collections of video-based communities, and FirstMet, a prominent interactive dating brand serving users 35 and older. The Company has a long history of technology innovation and holds 25 patents related to video conferencing and online gaming.
For more information, please visit http://www.snap-interactive.com.
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SOURCE: Snap Interactive, Inc.