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A MATCH MADE IN HEAVEN
A MATCH MADE IN HEAVEN
ParshipMeet Group
A MATCH MADE IN HEAVEN
ParshipMeet Group
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March 2021. As the COVID-19 pandemic caused more and more social isolation in 2020, the need for interpersonal encounters and contacts online rose in parallel: Online dating acted as a remedy for loneliness - so this period further strengthened the already existing megatrend. The ProSiebenSat.1 Group has also expanded its expertise in online dating: In September 2020, ProSiebenSat.1 company Parship Group acquired US-based The Meet Group to form a leader in the dating market. The new ParshipMeet Group encompasses the full spectrum of services on the market: In addition to online matchmaking brands Parship, ElitePartner and eharmony, the portfolio now also includes some well-known social dating apps that are especially popular in the US, such as MeetMe and Tagged. In turn, the LOVOO dating service has a strong base especially in Europe.
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By merging the Parship Group with The Meet Group, we are making our dating portfolio broader, more international and unique in the competitive arena. There are levers for synergies in various areas. First and foremost is the use of the TV reach of the ProSiebenSat.1 Group's entertainment platforms to further increase awareness of the dating brands in the German-speaking markets. This has already worked successfully for Parship and ElitePartner in recent years. In addition, there are ideas to extend our dating offers even more in the direction of entertainment. The ProSiebenSat.1 Group’s decision to acquire The Meet Group was driven chiefly by its USP: its expertise in live video streaming. This makes an exciting addition not only to the dating business but also to the Group’s entertainment segment.

HIGHLIGHT-FIGURES

8 % market growth is currently being recorded for online dating in the USA and Germany – a very dynamic development.

Up to 25% more messages have been sent by Parship singles since the first lockdown in 2020.

13 hours lasted the longest video date in ElitePartner’s history.

More than 1 billion minutes spend users per month in The Meet Group’s video streams.

250.000 Dating-Games are played by The Meet Group’s customers every day.

In short, the Parship Group and The Meet Group are a good synergistic fit, which in turn serves to further accelerate diversification at ProSiebenSat.1 and creates additional value for the entire Group. That is because online dating and video chats are currently very popular – and not just because of the COVID-19 pandemic. In other words: A match made in heaven.

MARC SCHACHTEL, Co-CEO ParshipMeet Group

MARC SCHACHTEL, Co-CEO ParshipMeet Group
(since March 23, 2023 CEO)

MARC SCHACHTEL, Co-CEO ParshipMeet Group
(since March 23, 2023 CEO)

The combination of Parship Group and The Meet Group lets us provide our customers with an even more comprehensive partner search service: In North America, for example, users look for casual encounters on apps such as MeetMe and Tagged, opt for apps like Scout for more concrete dating intentions, and use our matchmaking platform eharmony to find apermanent raltionship. The situation is similar in Europe, where LOVOO covers the social dating segment and Parship and ElitePartner the matchmaking market. Harnessing the extensive expertise at both businesses, we intend to join forces in further optimizing our platforms by not only making the most of Parship Group’s experience with integrations but also leveraging The Meet Group’s video know-how for the Parship Group’s apps.

This is the basis we are building on and we look forward to the exciting prospects for everyone at the ParshipMeet Group so that we can benefit from each other economically, but also operationally and technologically. We have ambitious plans for how we can mutually benefit from commercial, operational and technical cross-pollination. Eharmony’s successful integration is testimony to how rewarding such an intensive dialog can be: After acquiring the company in 2018, we moved the US service onto a joint platform with Parship and ElitePartner, which is designed for multiple brands and markets. The result? An enhanced matchmaking service coupled with improved user experience and consequently commercial performance. Synergies have helped to significantly improve economic performance. The company benefits not least from the increased attractiveness of its offerings.

GEOFF COOK, Co-CEO ParshipMeet Group
(until March 23, 2023)

GEOFF COOK, Co-CEO ParshipMeet Group (bis 23.03.2023)

GEOFF COOK, Co-CEO ParshipMeet Group (until March 23, 2023)

As a company that has always been an early adopter of new technologies, The Meet Group’s core competency is live video streaming. Even before our competitors got in on the act, we dedicated ourselves to the forward-looking topic of live video streaming, which makes us true pioneers in the field of social networks as well as mobile apps. Today, The Meet Group is a leading provider of live interactive video apps. We are very excited about the prospect of shaping the world of dating together with Parship Group!

At The Meet Group, we have by far the largest streaming community in the industry. What’s our secret to success? If there are only a few matches and responses, users might soon start feeling lonely on many dating apps. But live video turns those moments of isolation into moments of connection. That’s because it is possible to get in touch with several people at once via video. For every person who starts a stream, there are ten people who want to watch it. At the same time, we provide entertainment on our platforms and are constantly integrating innovative new live games. This gamifying approach is a powerful engine driving monetization. After all, while many people do not wish to pay for a subscription, they are willing to spend money on virtual gifts. Plus, sales of our proprietary vPaas live video streaming technology is evolving into a lucrative business. All in all, we now have a level of monetization per user that is unmatched in the industry.

HENNING RÖNNEBERG, CFO ParshipMeet Group(seit 23.03.2023 CFO & COO)

HENNING RÖNNEBERG, CFO ParshipMeet Group
(since March 23, 2023 CFO & COO)

HENNING RÖNNEBERG, CFO ParshipMeet Group
(since March 23, 2023 CFO & COO)

Starting in 2012, every time ProSiebenSat.1 has given us a boost, it has translated into growth: The creation of ParshipMeet Group is a prime example of ProSiebenSat.1 Group’s "buy and build" strategy. As a result, Parship Group has in recent years evolved into a strong international player in the dating market. Advertising synergies with the entertainment segment, thanks to the initial media-for-equity investment in Parship, have generated unequivocal organic growth. By the same token, acquiring ElitePartner in 2015 and subsequently eharmony in 2018 allowed us to enlarge both our portfolio and our geographic footprint. By acquiring The Meet Group, we are now significantly expanding our positioning, tapping into a younger target group and above all honing our market-leading live video streaming expertise.

Combining two complementary business models, target groups and geographic markets opens up enormous potential for us: The new ParshipMeet Group is characterized by a highly diversified revenue model – spanning pure subscription models through advertising to fast-growing in-app purchasing. This is how we set ourselves apart from the competition. Plus, we anticipate significant synergies as these two businesses become more closely intertwined, which will further boost our profitability and growth. Based on this position in the dating market, we aim to go public in 2022, with ProSiebenSat.1 remaining the majority shareholder, thus allowing us to continue growing together.

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