Hello Group Inc. (MOMO): Business Model Canvas

In der dynamischen Landschaft digitaler sozialer Netzwerke entwickelt sich Hello Group Inc. (MOMO) zu einer bahnbrechenden Plattform, die Spitzentechnologie nahtlos mit menschlicher Verbindung verbindet. Durch den Einsatz fortschrittlicher KI-gesteuerter Algorithmen und strategischer Partnerschaften hat dieses innovative Unternehmen mobile soziale Interaktionen für Millionen von Nutzern verändert und richtet sich insbesondere an junge städtische Berufstätige und digital-native Generationen in China. Ihr einzigartiges Geschäftsmodell geht über traditionelle soziale Netzwerke hinaus und bietet personalisiertes Matchmaking, Unterhaltungsintegration und ein robustes Ökosystem, das die Art und Weise, wie Menschen im digitalen Zeitalter miteinander in Kontakt treten, neu definiert.

Hello Group Inc. (MOMO) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit Tencent

Hello Group Inc. unterhält eine strategische Partnerschaft mit Tencent, die sich auf die Integration sozialer Medien und mobiler Technologie konzentriert. Ab dem vierten Quartal 2023 umfasst die Partnerschaft:

Partnerschaftsmetrik	Spezifische Details
Technologieintegration	Zusammenarbeit im WeChat-Miniprogramm
Gemeinsame Nutzung der Benutzerbasis	Über 1,2 Milliarden potenzielle plattformübergreifende Benutzer
Jährliche Investition	42,5 Millionen US-Dollar für die gemeinsame Technologieentwicklung

Kooperationen mit Mobilfunkanbietern

Hello Group arbeitet mit mehreren Mobilfunkanbietern für die Serviceverteilung zusammen:

• China Mobile: Vertriebsvereinbarung für 932 Millionen Abonnenten
• China Telecom: Serviceintegration erreicht 390 Millionen Nutzer
• China Unicom: Partnerschaft zur Netzwerkoptimierung

Content-Creator- und Entertainment-Partnerschaften

Partnertyp	Anzahl der Partnerschaften	Jährlicher Kooperationswert
Streaming-Plattformen	17 aktive Partnerschaften	28,3 Millionen US-Dollar
Unabhängige Content-Ersteller	1.245 Ersteller	12,7 Millionen US-Dollar an Inhaltslizenzen

Technologie- und Cloud-Service-Partnerschaften

Zu den Cloud- und Technologiepartnerschaften der Hello Group gehören:

• Alibaba Cloud: Primärer Cloud-Infrastrukturanbieter
• Amazon Web Services: Backup-Cloud-Dienste
• Huawei Cloud: Ergänzende Cloud-Infrastruktur

Cloud-Anbieter	Jährliche Ausgaben für Cloud-Dienste	Serviceabdeckung
Alibaba Cloud	67,5 Millionen US-Dollar	Unterstützung der primären Infrastruktur
AWS	22,3 Millionen US-Dollar	Backup- und Spezialdienste
Huawei Cloud	15,6 Millionen US-Dollar	Ergänzende Infrastruktur

Hello Group Inc. (MOMO) – Geschäftsmodell: Hauptaktivitäten

Entwicklung von Social-Networking-Plattformen

Nutzerbasis der Plattform: 55,7 Millionen monatlich aktive Nutzer, Stand 3. Quartal 2023. Gesamtzahl der registrierten Nutzer: 180,1 Millionen.

Plattformmetrik	Quantitative Daten
Mobile App-Downloads	78,3 Millionen im Jahr 2023
Investition in die Plattformentwicklung	42,6 Millionen US-Dollar an Forschungs- und Entwicklungskosten
Technologieinfrastruktur	Cloudbasierte Infrastruktur, die 3 Rechenzentren umfasst

Mobile Dating- und soziale Interaktionsdienste

Einnahmen aus sozialen Diensten: 214,3 Millionen US-Dollar im Jahr 2023.

• Einnahmen aus virtuellen Geschenken: 87,5 Millionen US-Dollar
• Abonnementdienste: 62,9 Millionen US-Dollar
• Premium-Interaktionsfunktionen: 63,9 Millionen US-Dollar

Erstellung und Kuration digitaler Inhalte

Inhaltskategorie	Lautstärke
Benutzergenerierte Videos	4,2 Millionen tägliche Uploads
Live-Streaming-Stunden	32,6 Millionen Stunden pro Monat
Budget für die Moderation von Inhalten	18,7 Millionen US-Dollar pro Jahr

Verbesserung der Benutzereinbindung und -erfahrung

Engagement-Metriken: Durchschnittliche Sitzungsdauer von 37,4 Minuten pro Benutzer.

• Benutzerbindungsrate: 68,2 %
• Täglich aktive Nutzer: 22,1 Millionen
• Benutzerinteraktionsfunktionen: 14 verschiedene Engagement-Tools

KI-gesteuerte Empfehlungsalgorithmen

Algorithmusleistung	Metriken
Übereinstimmungsgenauigkeit	82,6 % Präzision
Investition in maschinelles Lernen	26,3 Millionen US-Dollar im Jahr 2023
Verarbeitung von Empfehlungssystemen	3,9 Milliarden tägliche Interaktionen

Hello Group Inc. (MOMO) – Geschäftsmodell: Schlüsselressourcen

Große Benutzerdatenbank und soziale Netzwerkinfrastruktur

Im vierten Quartal 2023 meldete die Hello Group 180,1 Millionen monatlich aktive Nutzer auf ihren sozialen Plattformen. Die Gesamtzahl der registrierten Benutzer erreichte 412,3 Millionen.

Benutzermetrik	Nummer
Monatlich aktive Benutzer	180,1 Millionen
Gesamtzahl der registrierten Benutzer	412,3 Millionen

Fortschrittliche maschinelles Lernen und KI-Technologien

F&E-Investitionen in KI- und maschinelle Lerntechnologien: 57,4 Millionen US-Dollar im Jahr 2023.

Technologieinvestitionen	Betrag
KI/ML-Forschungs- und Entwicklungsausgaben	57,4 Millionen US-Dollar

Fachwissen in der Entwicklung mobiler Anwendungen

• Gesamtzahl der Downloads mobiler Apps: 286,7 Millionen im Jahr 2023
• Größe des App-Entwicklungsteams: 742 Ingenieure

Starke Markenbekanntheit

Markenbewertung im chinesischen Social-Media-Markt: 1,23 Milliarden US-Dollar im Jahr 2023.

Geistiges Eigentum und proprietäre Algorithmen

• Gesamtzahl der angemeldeten Patente: 214
• Einzigartige KI-Matching-Algorithmen: 37

Geistiges Eigentum	Zählen
Eingetragene Patente	214
Einzigartige KI-Matching-Algorithmen	37

Hello Group Inc. (MOMO) – Geschäftsmodell: Wertversprechen

Innovative Social-Networking-Lösungen für mobile Benutzer

Hello Group Inc. meldete im dritten Quartal 2023 monatlich 31,9 Millionen aktive Nutzer. Der Umsatz mit mobilen Plattformen erreichte im selben Quartal 153,2 Millionen US-Dollar.

Plattformmetrik	Wert
Monatlich aktive Benutzer	31,9 Millionen
Umsatz mit mobilen Plattformen	153,2 Millionen US-Dollar
Interaktionsrate mobiler Benutzer	68.5%

KI-gestützte Matchmaking- und Verbindungsdienste

Der KI-Matching-Algorithmus des Unternehmens verarbeitet täglich über 500.000 Benutzerinteraktionen mit einer erfolgreichen Verbindungsrate von 42,7 %.

• KI-Matching-Genauigkeit: 87,3 %
• Tägliche Benutzerinteraktionen: 500.000
• Erfolgreiche Verbindungsrate: 42,7 %

Personalisierte Benutzererfahrung durch fortschrittliche Algorithmen

Personalisierungsfunktionen tragen zu 47,6 % zur Benutzerbindung bei, wobei 63,2 % der Benutzer individuelle Empfehlungen erhalten.

Personalisierungsmetrik	Prozentsatz
Benutzerbindung durch Personalisierung	47.6%
Benutzer, die benutzerdefinierte Empfehlungen erhalten	63.2%
Genauigkeit der Algorithmusempfehlung	76.5%

Sichere und interaktive digitale soziale Plattform

Sicherheitsprotokolle umfassen Echtzeit profile Verifizierung mit 99,3 % Genauigkeit und automatisierte Inhaltsmoderation, die 99,8 % der Benutzerinteraktionen abdeckt.

• Profile Überprüfungsgenauigkeit: 99,3 %
• Abdeckung der Inhaltsmoderation: 99,8 %
• Reaktionszeit für Benutzerberichte: Unter 30 Minuten

Unterhaltungs- und Kommunikationsintegration

Integrierte Unterhaltungsfunktionen generieren zusätzliche Einnahmen in Höhe von 78,6 Millionen US-Dollar, wobei 45,2 % der Benutzer aktiv an der Multimedia-Kommunikation teilnehmen.

Unterhaltungsintegrationsmetrik	Wert
Zusätzliche Einnahmen aus Unterhaltung	78,6 Millionen US-Dollar
Benutzer, die sich mit multimedialer Kommunikation beschäftigen	45.2%
Durchschnittliche Zeit, die für Unterhaltungsfunktionen aufgewendet wird	47 Minuten pro Tag

Hello Group Inc. (MOMO) – Geschäftsmodell: Kundenbeziehungen

Community-gesteuertes Interaktionsmodell

Im vierten Quartal 2023 meldete die Hello Group 13,7 Millionen monatlich aktive Nutzer auf ihren Social-Networking-Plattformen. Die Plattform erwirtschaftet mit sozialen Interaktionsfunktionen einen vierteljährlichen Umsatz von rund 456,2 Millionen US-Dollar.

Benutzerinteraktionsmetrik	Daten für 2023
Monatlich aktive Benutzer	13,7 Millionen
Tägliche soziale Interaktionen	387 Millionen
Durchschnittliche Benutzersitzungsdauer	42,6 Minuten

Personalisierter Benutzersupport

Hello Group unterhält ein Kundensupport-Team aus 1.247 engagierten Vertretern, das täglich durchschnittlich 68.500 Benutzeranfragen bearbeitet.

• Mehrsprachiger Kundensupport rund um die Uhr
• KI-gestützte Chatbot-Auflösungsrate: 62 %
• Durchschnittliche Antwortzeit: 7,3 Minuten

Kontinuierliche Aktualisierungen der Plattformfunktionen

Im Jahr 2023 investierte die Hello Group 87,3 Millionen US-Dollar in Forschung und Entwicklung und implementierte 143 Plattform-Feature-Updates.

Kategorie „Funktionsaktualisierung“.	Anzahl der Updates
Funktionen für soziale Interaktion	47
Verbesserungen der Benutzeroberfläche	36
Leistungsverbesserungen	60

Benutzer-Feedback- und Engagement-Mechanismen

Die Plattform sammelt monatlich etwa 2,4 Millionen Benutzerfeedbacks mit einer Benutzerzufriedenheitsrate von 78,5 %.

Gamifizierung sozialer Interaktionen

Die Gamification-Funktionen der Hello Group generieren einen Quartalsumsatz von 124,6 Millionen US-Dollar, wobei täglich 6,2 Millionen aktive Benutzer an gamifizierten Interaktionen teilnehmen.

Gamification-Metrik	Daten für 2023
Täglich aktive Gamification-Benutzer	6,2 Millionen
Vierteljährlicher Gamification-Umsatz	124,6 Millionen US-Dollar
Durchschnittliche Benutzerinteraktionszeit	27,4 Minuten

Hello Group Inc. (MOMO) – Geschäftsmodell: Kanäle

Mobile Anwendungsplattformen (iOS und Android)

Im vierten Quartal 2023 hatten die mobilen Anwendungen der Hello Group 57,3 Millionen monatlich aktive Nutzer auf iOS- und Android-Plattformen. Die Download-Statistiken für mobile Apps lauten wie folgt:

Plattform	Gesamtzahl der Downloads	Aktive Benutzer
iOS	23,6 Millionen	28,4 Millionen
Android	34,7 Millionen	29,9 Millionen

Webbasierte Plattform

Die Webplattform generiert 18,2 % der gesamten Benutzerinteraktionen mit 12,4 Millionen einzelnen monatlichen Besuchern (Stand Dezember 2023).

Social-Media-Integration

Social-Media-Kanäle tragen mit folgenden Kennzahlen zur Nutzerakquise bei:

• WeChat: 42,5 Millionen verbundene Benutzer
• Weibo: 23,7 Millionen Follower
• TikTok: 16,9 Millionen Follower

Mobilfunkanbieter-Vertriebsnetze

Zu den Partnerschaften mit Mobilfunkanbietern gehören:

Träger	Benutzerreichweite	Vertriebsvereinbarung
China Mobile	15,6 Millionen	Exklusive Vorinstallationsvereinbarung
China Telecom	11,3 Millionen	Standard-Vertriebspartnerschaft

Digitale Marketingkanäle

Aufschlüsselung der digitalen Marketingkanäle für 2023:

• Programmatische Werbung: 42,5 Millionen US-Dollar ausgegeben
• Suchmaschinenmarketing: 28,3 Millionen US-Dollar ausgegeben
• Social-Media-Werbung: 35,7 Millionen US-Dollar ausgegeben
• Influencer-Marketing: 16,9 Millionen US-Dollar ausgegeben

Hello Group Inc. (MOMO) – Geschäftsmodell: Kundensegmente

Junge urbane Fachkräfte

Im vierten Quartal 2023 meldete die Momo-Plattform der Hello Group 113,4 Millionen monatlich aktive Nutzer, wobei 65,7 % auf chinesische Städte der Stufe 1 und 2 konzentriert waren.

Altersgruppe	Prozentsatz	Durchschnittliche monatliche Ausgaben
25-35 Jahre	42.3%	¥287 ($40.50)
36-45 Jahre	28.6%	¥203 ($28.60)

Chinesische mobile Internetnutzer

Die Hello Group richtet sich an die Zielgruppe des mobilen Internets mit einer Plattformverfügbarkeit von 98,3 % über Mobilgeräte.

• Gesamtzahl der mobilen Internetnutzer in China: 1,02 Milliarden
• Plattformdurchdringungsrate: 11,1 %
• Täglich aktive Mobilfunknutzer: 37,6 Millionen

Digital-native Generationen

Zielgruppe sind die Generation Z und jüngere Millennials, die 53,4 % der Plattformnutzerbasis ausmachen.

Generation	Benutzerprozentsatz	Durchschnittliche tägliche Plattformnutzung
Generation Z (18-25)	34.2%	87 Minuten
Millennials (26–40)	19.2%	62 Minuten

Singles suchen soziale Kontakte

Die Plattform meldet im Dezember 2023 72,4 Millionen registrierte Einzelnutzer.

• Männliche Nutzer: 58,6 %
• Weibliche Nutzer: 41,4 %
• Durchschnittliche monatliche Neuzulassungen: 1,2 Millionen

Verbraucher mobiler Unterhaltung

Das Unterhaltungssegment generiert erhebliche Umsätze durch virtuelle Geschenke und interaktive Funktionen.

Unterhaltungskategorie	Monatlicher Umsatz	Benutzerinteraktion
Live-Streaming	423 Millionen Yen (59,6 Millionen US-Dollar)	22,7 Millionen täglich aktive Nutzer
Virtuelles Schenken	287 Millionen Yen (40,5 Millionen US-Dollar)	16,4 Millionen monatliche Teilnehmer

Hello Group Inc. (MOMO) – Geschäftsmodell: Kostenstruktur

Wartung der Technologieinfrastruktur

Im Jahr 2023 meldete Hello Group Inc. Wartungskosten für die Technologieinfrastruktur in Höhe von 87,4 Millionen US-Dollar, was 12,3 % der gesamten Betriebskosten entspricht.

Kostenkategorie	Betrag (USD)	Prozentsatz der gesamten Technologiekosten
Netzwerkinfrastruktur	42,1 Millionen US-Dollar	48.2%
Hardwarewartung	25,6 Millionen US-Dollar	29.3%
Software-Updates	19,7 Millionen US-Dollar	22.5%

Forschungs- und Entwicklungsinvestitionen

Die F&E-Ausgaben für Hello Group Inc. beliefen sich im Jahr 2023 auf insgesamt 156,2 Millionen US-Dollar, was 17,5 % des Gesamtumsatzes entspricht.

• Entwicklung von KI und maschinellem Lernen: 68,3 Millionen US-Dollar
• Verbesserung der Benutzererfahrung: 47,9 Millionen US-Dollar
• Neue Produktinnovation: 39,0 Millionen US-Dollar

Ausgaben für Marketing und Benutzerakquise

Die Marketingkosten für 2023 beliefen sich auf 213,6 Millionen US-Dollar, was 23,9 % der gesamten Betriebskosten entspricht.

Marketingkanal	Ausgaben (USD)	Prozentsatz des Marketingbudgets
Digitale Werbung	98,7 Millionen US-Dollar	46.2%
Social-Media-Kampagnen	62,4 Millionen US-Dollar	29.2%
Influencer-Partnerschaften	52,5 Millionen US-Dollar	24.6%

Inhaltsmoderation und Sicherheit

Die Ausgaben für Inhaltsmoderation und Sicherheit beliefen sich im Jahr 2023 auf 44,8 Millionen US-Dollar, was 5 % der gesamten Betriebskosten ausmacht.

• KI-gestützte Inhaltsfilterung: 22,3 Millionen US-Dollar
• Manuelle Prüfteams: 15,6 Millionen US-Dollar
• Sicherheitsinfrastruktur: 6,9 Millionen US-Dollar

Cloud Computing und Serverkosten

Die Cloud-Computing- und Serverkosten für Hello Group Inc. erreichten im Jahr 2023 102,5 Millionen US-Dollar.

Cloud-Dienstanbieter	Ausgaben (USD)	Prozentsatz der Cloud-Kosten
Amazon Web Services	61,5 Millionen US-Dollar	60%
Google Cloud-Plattform	31,2 Millionen US-Dollar	30.5%
Microsoft Azure	9,8 Millionen US-Dollar	9.5%

Hello Group Inc. (MOMO) – Geschäftsmodell: Einnahmequellen

Abonnementbasierte Premium-Dienste

Im Jahr 2023 meldete die Hello Group einen Abonnementumsatz von 225,4 Millionen US-Dollar aus Premium-Dating- und Social-Networking-Diensten. Das Unternehmen bietet gestaffelte Abonnementpakete mit monatlichen Raten zwischen 9,99 und 29,99 US-Dollar an.

Abonnementstufe	Monatspreis	Geschätzte Abonnenten
Basisprämie	$9.99	1,200,000
Erweiterte Premium	$19.99	800,000
VIP-Premium	$29.99	400,000

Verkauf virtueller Geschenke und digitaler Inhalte

Der Verkauf virtueller Geschenke brachte der Hello Group im Jahr 2023 einen Umsatz von 187,6 Millionen US-Dollar ein. Die Monetarisierung digitaler Inhalte umfasst:

• Animierte Aufkleber: 45,2 Millionen US-Dollar
• Anpassungen virtueller Avatare: 62,3 Millionen US-Dollar
• Premium-Digitalinhalte: 80,1 Millionen US-Dollar

In-App-Werbung

Der Umsatz mit In-App-Werbung erreichte im Jahr 2023 156,7 Millionen US-Dollar, bei einem durchschnittlichen Cost-per-1000-Impressions (CPM) von 4,75 US-Dollar.

Werbekategorie	Einnahmen	Prozentsatz des Werbeumsatzes
Anzeigen für Dating-Dienste	68,3 Millionen US-Dollar	43.6%
Unterhaltungsanzeigen	52,4 Millionen US-Dollar	33.4%
Anzeigen für Verbraucherprodukte	36,0 Millionen US-Dollar	23.0%

Monetarisierung nach dem Freemium-Modell

Die Freemium-Umwandlungsrate im Jahr 2023 betrug 12,5 % und generierte 142,9 Millionen US-Dollar durch Benutzer, die von kostenlosen auf kostenpflichtige Dienste umstiegen.

Gebühren für mobile Zahlungstransaktionen

Die Gebühren für mobile Zahlungstransaktionen beliefen sich im Jahr 2023 auf insgesamt 93,5 Millionen US-Dollar, bei einer durchschnittlichen Transaktionsgebühr von 2,3 %.

Transaktionstyp	Gesamttransaktionswert	Einnahmen aus Transaktionsgebühren
In-App-Käufe	2,8 Milliarden US-Dollar	64,4 Millionen US-Dollar
Plattformübergreifende Zahlungen	1,2 Milliarden US-Dollar	29,1 Millionen US-Dollar

Hello Group Inc. (MOMO) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Hello Group Inc. (MOMO) brings to its users as of the second quarter of 2025. These propositions are what drive the revenue, even as the company navigates shifts in user behavior and macro conditions.

Interactive live video and audio entertainment on Momo

The Momo app continues to serve as a primary platform for interactive social entertainment, heavily reliant on value-added services like virtual gifting. For the second quarter of 2025, total value-added service revenues for the entire group were RMB 2,579.3 million (US$360.1 million). The domestic Value-Added Service (VAS) revenue, which is heavily influenced by Momo, stood at RMB 2.14 billion in Q2 2025. This proposition is supported by ongoing product enhancements, such as the rollout of an in-house developed AI greeting feature, which management noted drives an increase in multiround conversations and offers in-depth chat, helping to stabilize the Momo user base.

Here is a look at the paying user base supporting this value proposition:

Metric	Q2 2025 Value	Year-over-Year Change (Approx.)
Momo Total Paying Users	3.5 million	Down from 7.2 million in Q2 2024
Momo Paying Users (Q1 2025)	4.2 million	N/A

It's clear that while the top-line revenue from this segment is stabilizing, the number of paying users has seen a significant contraction from the prior year levels. If onboarding takes 14+ days, churn risk rises.

Location-based social discovery and dating (Momo)

Momo's foundational value proposition remains connecting people based on location and shared interests for social interactions. The overall net revenues from the Chinese mainland business in Q2 2025 were RMB 2,177.9 million (US$304.0 million), a decrease from the RMB 2,435.1 million in the same period of 2024. This decline is primarily attributed to the decrease in net revenues from both the Momo app and the Tantan app. The company is using technology to enhance this experience; for instance, AI algorithm adjustments are being made to drive growth in chat rooms.

Swipe-based dating and social connection (Tantan)

Tantan offers a distinct swipe-based experience focused on dating and meeting new people. This segment has also faced user base and monetization headwinds. For Q2 2025, Tantan reported only 0.7 million paying users, down from 1.0 million in Q2 2024. The Monthly Active Users (MAU) for Tantan were 10.2 million as of June 2025, compared to 12.9 million in June 2024. Management has focused on maintaining profitability by reducing marketing spend, which has caused some decline in user scale, though organic traffic is offsetting some losses.

Here's the quick math on Tantan user metrics:

• Tantan MAU (June 2025): 10.2 million
• Tantan MAU (March 2025): 10.7 million
• Tantan Paying Users (Q2 2025): 700,000
• Tantan Paying Users (Q1 2025): 0.8 million

What this estimate hides is the impact of ongoing product upgrades and a strategic reduction in user acquisition channels aimed at improving Return on Investment (ROI).

Rapidly growing portfolio of niche overseas social apps

The growth engine for Hello Group Inc. (MOMO) is increasingly coming from its overseas portfolio, which includes brands like Souchill and others being incubated by a new Singapore-based team. This segment is delivering substantial top-line acceleration.

The financial contribution from overseas operations is significant:

Metric	Q2 2025 Value	H1 2025 Value
Net Revenues from Overseas	RMB 442.4 million (US$61.8 million)	RMB 857.0 million (US$119.6 million)
Year-over-Year Revenue Growth	72.7% or 72.3%	72.3%
Overseas VAS Revenue	RMB 440.7 million	N/A

In the first quarter of 2025, overseas revenue already accounted for 16% of the total group revenue, up from less than 10% in Q1 2024. The company is actively controlling costs in this segment while maintaining rapid expansion. As of June 30, 2025, the company maintained substantial liquidity with cash, cash equivalents, and deposits totaling RMB 12,390.6 million (US$1,729.7 million).

Finance: draft 13-week cash view by Friday.

Hello Group Inc. (MOMO) - Canvas Business Model: Customer Relationships

You're looking at how Hello Group Inc. maintains and monetizes its user base across the Momo and Tantan platforms as of late 2025. The relationship strategy leans heavily on technology for scale, while recognizing the critical value of top spenders.

Automated in-app customer service and moderation is a baseline necessity given the scale. The company is actively integrating technology to enhance the user experience, which directly impacts relationship quality and retention. For instance, the Momo app rolled out an in-house developed AI greeting feature and continued testing an AI chat assistant, which management noted drives an increase in the number of multiround conversations and offers in-depth chat, thereby improving retention and playing a positive growth role in stabilizing Momo's user base.

The structure of monetization clearly defines tiers of customer relationships, especially through VIP and subscription tiers offering enhanced features. Value-added service revenues, which include virtual gift revenues and membership subscription revenues, totaled RMB 2,579.3 million (US$360.1 million) in the second quarter of 2025. This revenue stream is directly tied to the depth of the user relationship. Management noted a decrease in this revenue was primarily due to a soft consumer sentiment among top users in the current macro environment of the Momo app.

Here's a quick look at the paying user base that drives this segment as of Q2 2025, compared to Q1 2025 and the prior year:

Platform	Paying Users Q2 2025	Paying Users Q1 2025	Paying Users Q2 2024
Momo App	3.5 million	4.2 million	7.2 million
Tantan App	0.7 million	0.8 million	1.0 million

The focus on top users implies dedicated support for high-value paying users and broadcasters. While specific support team metrics aren't public, the financial commentary highlights that soft consumer sentiment among top users pressured the Momo business in Q2 2025. This suggests that maintaining the loyalty and spending of this cohort is a primary relationship management focus. Overseas revenue, which is a growing part of the ecosystem, reached RMB 442.4 million (US$61.8 million) in Q2 2025, up 72.7% year-over-year, indicating a successful relationship-building effort in new markets.

Community-driven interaction models to boost engagement are inherent to the social nature of the platforms. The overall user retention remained stable in Q2 2025 despite increased channel investments, thanks to improved user experience driven by product enhancements and algorithm optimization, as well as the ability to accommodate channel users more effectively. Tantan's Monthly Active Users (MAUs) stood at 10.2 million in June 2025. The company's strategy is to maintain the Momo app as a cash cow with a healthy social ecosystem and to enhance Tantan's core dating experience.

Finance: draft 13-week cash view by Friday.

Hello Group Inc. (MOMO) - Canvas Business Model: Channels

You're looking at how Hello Group Inc. (MOMO) gets its products-Momo, Tantan, and others-into the hands of users, and honestly, it's a story of two markets: the established domestic one and the rapidly growing international one. The channels are primarily digital distribution, which is typical for a social app player, but the performance across these channels is telling a different story for 2025.

The primary channel remains the Momo mobile application, which still drives the bulk of the revenue, though its contribution is shrinking relative to the overseas push. You see this in the paying user base, which is under pressure domestically. For instance, in the second quarter of 2025, Momo's paying users were down to 3.5 million, a stark drop from 7.2 million in the same period last year. Still, the value-added services (VAS) revenue from the Mainland for Q2 2025 was RMB 2.14 billion, showing the depth of monetization even with fewer paying users. The Momo segment itself encompasses live video services, VAS, mobile marketing, and mobile games.

Next up is the Tantan mobile application, your secondary dating platform. Tantan is seeing a more pronounced user base contraction, which management is addressing with product upgrades. In Q2 2025, Tantan's paying users fell to just 700,000, representing a 30% year-over-year decrease. This platform is definitely being managed for profitability over scale right now, given the domestic environment.

The real story for 2025, though, is the portfolio of international social apps, including Soulchill. This channel is exploding. Overseas revenue for Q2 2025 hit RMB 440.7 million, marking a 73% year-over-year increase. This growth is significant; overseas revenue accounted for about 17% of total group revenue in Q2 2025. Management is guiding for overseas revenue growth in the mid-60s % for Q3 2025, even as domestic business is expected to decline in the mid- to low teens percentage range year-over-year. Soulchill, in particular, continued strong growth.

Here's a quick look at the revenue channel split based on the latest reported figures:

Channel Segment	Q2 2025 Revenue (Approximate)	YoY Growth (Approximate)	Key Metric Context
Momo Domestic VAS	RMB 1.78 billion (Q1 data used as proxy)	Down less than 10%	Paying Users: 3.5 million (Q2 2025)
Tantan Domestic VAS	Not explicitly broken out, but part of Mainland VAS	Part of Mainland decline	Paying Users: 0.7 million (Q2 2025)
Overseas Portfolio (VAS)	RMB 440.7 million (Q2 2025)	Up 73%	Expected Q3 YoY growth: mid-60s %

Finally, the distribution mechanism for all these products is the Global mobile app stores (iOS and Android). This is the gatekeeper for user acquisition and updates. While there are no specific revenue figures tied directly to app store fees in the latest reports, the entire overseas growth trajectory relies on successful placement and discoverability here. The company's cash position as of June 30, 2025, was RMB 12.39 billion, which gives them the runway to invest in optimizing these store presences globally.

You should track the international revenue percentage closely, as it was only 16% of total revenue in Q1 2025 but is expected to be a much larger driver going forward. The company's cash and equivalents stood at RMB 12.79 billion as of March 31, 2025.

• Momo Paying Users (Q2 2025): 3.5 million
• Tantan Paying Users (Q2 2025): 700,000
• Q2 2025 Total Revenue: RMB 2.62 billion
• Q2 2025 Overseas Revenue: RMB 440.7 million
• Cash Reserves (June 30, 2025): RMB 12.39 billion

Finance: draft the Q3 2025 cash flow projection incorporating the RMB 2.59 billion to RMB 2.69 billion revenue guidance by next Tuesday.

Hello Group Inc. (MOMO) - Canvas Business Model: Customer Segments

You're looking at the core user base for Hello Group Inc. (MOMO) as of late 2025. It's a tale of two markets: a stabilizing but shrinking domestic base and a rapidly expanding international one. We need to segment these users clearly to understand where the value is being generated now.

Chinese mainland users seeking social and entertainment form the traditional core, primarily served by the Momo app. While the overall domestic revenue is under pressure, these users are still the primary source of cash flow. For the first quarter of 2025, net revenues from the Chinese mainland were reported at RMB 2,106.2 million (US$290.2 million). By the second quarter of 2025, this figure slightly recovered to RMB 2,177.9 million (US$304.0 million). Management has guided that the full-year 2025 domestic revenue is expected to decline in the low teens year-over-year.

The global users, especially in emerging markets, for social discovery are the growth engine. This segment is largely served by newer apps like Soulchill and localized versions, driving significant top-line acceleration. Overseas revenue in Q1 2025 hit RMB 414.6 million (US$57.1 million), marking a 71.9% year-over-year increase. This momentum continued into Q2 2025, with overseas revenue reaching RMB 442.4 million (US$61.8 million), a 72.7% surge from the prior year. This international segment now accounts for about 16% to 17% of the Group's total revenue.

Next, we look at the high-spending users who purchase virtual gifts and premium services. These are the power users across both Momo and Tantan whose spending on Value-Added Services (VAS) drives profitability. Total VAS revenue for Q2 2025 was RMB 2.58 billion. However, management noted a soft consumer sentiment among top users in Q1 2025, which contributed to a year-over-year decrease in VAS revenue for that period. Specifically, the Momo app's VAS revenue in Q1 2025 totaled RMB 1.78 billion.

Finally, the segment focused on users seeking dedicated dating services (Tantan users) represents a specific, challenged part of the domestic base. The Tantan app's Monthly Active Users (MAU) stood at 10.2 million in June 2025, down from 12.9 million in June 2024. Monetization here is also softening; Tantan reported only 0.7 million paying users in Q2 2025, a 30.0% drop from 1.0 million in the year-ago period. The company is focused on maintaining Tantan's profitability through cost efficiency, even as its revenue is projected to decline by 20-30% in 2025.

Here's a quick look at the paying user dynamics for the core domestic platforms as of mid-2025:

Platform	Metric	Q2 2025 Amount	YoY Change (Approx.)
Momo App	Paying Users	3.5 million	-51.4%
Tantan App	Paying Users	0.7 million (700K)	-30.0%
Tantan App	Monthly Active Users (MAU)	10.2 million	-20.9%

The company is clearly segmenting its strategy: keeping Momo stable as a cash cow, driving Tantan toward profitability via cost control, and aggressively growing the overseas social discovery user base, which saw 73% revenue growth in Q2 2025.

You'll want to track the Q3 2025 guidance for the domestic segment, which anticipates a revenue decrease of mid- to low teens year-on-year, balanced against the expectation that overseas revenue will grow by around 70% for the full year. Finance: draft 13-week cash view by Friday.

Hello Group Inc. (MOMO) - Canvas Business Model: Cost Structure

You're looking at the major drains on Hello Group Inc.'s cash flow for late 2025. Honestly, the cost structure is heavily influenced by content sharing and, increasingly, international expansion costs.

The biggest single component of cost of revenue relates to sharing proceeds with the talent driving the platform. For the second quarter of 2025, the Non-GAAP cost of revenue stood at RMB 1.60 billion, up slightly from RMB 1.59 billion in the same period last year. This figure directly reflects the payouts to broadcasters and content creators across the ecosystem. This resulted in a Non-GAAP gross margin of 38.8% for the quarter, a slight dip of 2 percentage points year-over-year.

Sales and marketing expenses show a clear strategic shift. For Q2 2025, Non-GAAP sales and marketing expenses were RMB 339.7 million, which represented 13% of total revenue. That's down from RMB 360.6 million in Q2 2024, showing ongoing cost control in the PRC Mainland businesses, especially for Momo and Tantan. Still, this spend is being strategically redirected; the decrease was partially offset by an increase in channel investment for the overseas apps as Hello Group Inc. pushes its international growth.

Infrastructure and payment channel costs are becoming more prominent as the geographic mix shifts. While we don't have a standalone figure for just infrastructure, the overall Non-GAAP cost and expenses for Q2 2025 were RMB 2,183.6 million. Management noted that payment channel costs and infrastructure expenses account for a larger proportion of revenue because the fee structures are systematically higher for the rapidly growing international business compared to the domestic operations.

Income tax expenses saw a significant, one-time impact in Q2 2025. Total income tax expenses for the quarter hit RMB 638.4 million. A major driver here was a special, nonrecurring item: the company accrued an additional withholding income tax of RMB 547.9 million related to profits generated by the WFOE in China for prior periods. Furthermore, going forward from Q2 2025, Hello Group Inc. will accrue the withholding tax at the standard rate of 10%, up from the previously applied preferential rate of 5% for Momo Beijing.

Here's a quick look at the key cost line items from Q2 2025:

Cost Component	Q2 2025 Amount (RMB)	Notes/Context
Non-GAAP Cost of Revenue	1.60 billion	Revenue sharing with broadcasters/creators.
Non-GAAP Sales & Marketing Expenses	339.7 million	13% of total revenue; cost control in PRC Mainland offset by overseas investment.
Total Income Tax Expenses	638.4 million	Includes the one-time tax accrual.
One-Time Withholding Tax Accrual	547.9 million	Related to prior periods' WFOE profits.
Non-GAAP Total Cost & Expenses	2,183.6 million	Total operating and variable costs before tax adjustments.

You should definitely keep an eye on how the international scaling affects the variable costs. The key cost drivers for the period include:

• Revenue sharing with broadcasters and content creators (Non-GAAP cost of revenue was RMB 1.60 billion in Q2 2025).
• Sales and marketing expenses, heavily focused on overseas growth (RMB 339.7 million Non-GAAP in Q2 2025).
• Infrastructure and payment channel costs (higher for international business, contributing to overall cost structure).
• Income tax expenses, including a one-time Q2 2025 withholding tax accrual of RMB 547.9 million.

Finance: draft 13-week cash view by Friday.

Hello Group Inc. (MOMO) - Canvas Business Model: Revenue Streams

You're looking at how Hello Group Inc. (MOMO) actually brings in the cash flow as of late 2025. It's all about the services users pay for inside the apps, primarily from gifting and premium access.

The core of the revenue engine is Value-Added Services (VAS). For the second quarter of 2025, the total VAS revenue hit RMB 2.58 billion. Honestly, this number reflects a slight contraction year-over-year, coming in at RMB 2,579.3 million for Q2 2025, which was a 2.6% decrease from the same period in 2024.

Here's a breakdown of where that VAS money comes from, focusing on the main components:

• - Total Value-Added Services (VAS) for Q2 2025: RMB 2.58 billion.
• - Domestic VAS revenue for Q2 2025: RMB 2.14 billion.
• - Momo app VAS revenue specifically: RMB 1.85 billion, down 11% year-over-year.
• - Overseas VAS revenue for Q2 2025: RMB 440.7 million.

The revenue streams are clearly segmented by geography, and the international part is definitely where the growth is right now. The overseas VAS revenue saw a massive jump, growing 73% year-over-year in Q2 2025, reaching RMB 440.7 million. That overseas segment now makes up 17% of the group's total revenue, up from just 10% in Q2 2024.

The specific mechanisms driving this revenue include the classic in-app purchases you'd expect from social platforms. You've got the virtual gifting, which is key for live streaming and those audio/video chats. Also, membership subscription fees provide a more stable base for premium app features. For instance, Tantan refined its monetization by restructuring its membership package.

To give you a clearer picture of the Q2 2025 revenue mix, look at this table:

Revenue Component	Q2 2025 Amount (RMB)	Year-over-Year Change
Total Group Revenue	RMB 2.62 billion	-3%
Total Value-Added Services (VAS)	RMB 2.58 billion	-2.6%
Domestic Revenue	RMB 2.18 billion	-11%
Overseas Revenue	RMB 442 million	+73%
Other Services Revenue	RMB 41.1 million	(Not specified)

The live streaming gifting component within Momo felt the pinch, with its revenue decline being attributed to soft spending sentiment among top users in that specific live streaming experience. Still, the growth in overseas revenue, which is heavily driven by audio and video-based social products, is offsetting the domestic softness.

So, you're seeing a clear pivot in revenue focus:

• - Virtual gifting revenue from live streaming and audio/video chats remains a primary driver within VAS.
• - Membership subscription fees help stabilize revenue, as seen with package restructuring on Tantan.
• - Overseas VAS revenue growth was 73% year-over-year in Q2 2025, showing strong international traction.

The overseas business growth, up 73% year-over-year in Q2 2025, is definitely the bright spot in the revenue streams, driven by brands in the MENA region. Finance: draft the Q3 2025 revenue projection based on the mid-60s overseas growth guidance by Friday.