Hello Group's net revenue breakdown 2023, by segment
Hello Group Inc. is a Chinese holding company that operates a fast-growing social networking platform Momo. Live video streaming service was the Group's primary revenue driver, generating more than six billion yuan of revenue in 2023. The company launched its flagship product Momo in 2011 as a pure location-based dating app. After a stagnant growth of daily active users (DAU) in 2015, the company incorporated live streaming features to bolster its social networking function. Its monetization model which encourages users to buy virtual gifts for streamers was once highly profitable until the Chinese government has doubled down its regulations on live streaming.