Meitu's User Base and Revenue Surge on AI-Driven Growth
Chinese tech giant Meitu has reported impressive growth in its user base and revenue. The company, known for its AI-driven photo and video editing applications, saw a significant increase in paying subscribers and monthly active users.
Meitu's paying subscribers grew by a substantial 42% to reach 15.4 million, generating RMB 15.4 million ($2.14 million) in revenue. This growth is attributed to the increasing popularity of the company's core imaging and design products, which contributed over 74% of its total revenue.
The company's global monthly active users also surged, reaching 280 million, marking an 8.5% year-over-year increase. Notably, users outside mainland China grew by 15.3% to account for 35% of Meitu's total monthly active users. This expansion is a testament to Meitu's global appeal.
Meitu's financial performance has been equally impressive. In the first half of 2023, the company's revenue increased by 12.3% to RMB 1.8 billion ($251 million). During this period, Meitu's net profit also rose by a remarkable 71% year over year to RMB 470 million ($65 million).
Meitu's success can be partly attributed to its integration of AI features. Now, AI permeates 90% of Meitu's products, enhancing user experience and driving engagement. One of Meitu's latest AI innovations, RoboNeo, an AI agent for creative imaging, has already surpassed 1 million monthly active users since its launch in July.
Meitu's strong performance in the first half of 2023, marked by significant user growth and increased revenue, underscores the company's position as a leader in AI-driven creative imaging. With AI features deeply integrated into its products and innovative launches like RoboNeo, Meitu is well-positioned to continue its growth trajectory.
