Meitu Profits Triple to $50M as AI Creative Tools Drive Overseas Growth
• Chinese selfie app maker Meitu tripled its profits in 2023 to between $46M-$52M thanks to new AI-powered image and video editing tools • Tools like Action (narrated video creator) and X-Design (graphic design platform) exceeded growth expectations in users and subscriptions • Meitu finding success monetizing its generative AI tools while big tech companies struggle to profit from their AI initiatives • Meitu pushing global expansion, recording rapid overseas subscriber growth outside mainland China in 2022 • Company first ventured into generative AI tools in mid-2022 after workflow integration and employee AI training