17 Media, the leading live streaming app in developed Asia, attained fourth highest-grossing photo and video app position globally in Q2 2019, according to the latest Sensor Tower report. Sensor Tower, a global mobile application data analysis company, announced the global photo and audio category app revenue rankings for the second quarter of 2019. According to the report, in the second quarter of 2019, the leading mobile app YouTube, generated US$138 million in overall revenue, a 2.2-fold increase over the same period last year.
The revenue data in the Sensor Tower report comes from consumer spending in the global App Store and Google Play Stores from April 1, 2019, to June 30, 2019. More details can be found on the Sensor Tower website: Top Grossing Photo & Video Apps Worldwide for Q2 2019.
17 Media tops Google Play Store earnings
The Taiwanese headquartered company also recorded its first number one position on the Google Play rankings, beating out other global giants like Twitch and TikTok to become the highest earner during this quarter.
The strong revenue growth has been fueled by continued strong performances in Japan and Taiwan, as well as the successful launch in the US on June 2019. M17 Group, 17 Media’s parent company, has also been making strides to expand its service offerings in the live and social commerce space with the launch of HandsUp, a B2B SaaS product.
M17 Group shows robust growth
In 2019, M17 Group turned profitable company-wide, with a strong 70% YoY growth. The company is on track to achieve projected annual revenue of TWD 10 billion (approx. USD 323 million) and projected annual live and social-commerce GMV of TWD 10 billion (approx. USD 323 million).
Established in 2017, with a vision to usher in a new age of live media and entertainment, M17 Group currently has offices in Japan, Taiwan, Singapore, Hong Kong, South Korea, Malaysia, and the U.S., and employs close to 800 people worldwide. With plans to deepen its roots globally with an existing user base of 40 million and 20,000 content creators and influencers, M17 Group seeks to pave the way for the next generation of live media.