MONEY CONTROL – Matrimony.com's revenue during the quarter climbed to Rs 114.9 crore ($14.2M), up 4.5% YOY. The profit dropped by 29.3% YOY to Rs 11.7 crore ($1.4M) in the Q2 of the fiscal year 2022-23 (Q2FY23). Matrimony.com added 242K paid subscriptions during the second quarter, a decline of 3.5% QOQ and a growth of 8.3% YOY.
Month: November 2022
Bumble’s Q3 2022 Results
PRESS RELEASE – Bumble's total revenue increased 17% to $233M YOY. Bumble app revenue increased 28% to $181M YOY. Badoo and other revenue declined 10.2% to $52M. Total paying users increased to 3.3M, compared to 2.9M. Net earnings were $26.4M, compared to a net loss of $10.4M.
Spark Networks’ Q3 Results With Continued Subscriber Growth for Zoosk and Focus on Profitability
PR NEWSWIRE – Q3 '22 revenue was $48.2M, compared to $53.3M in Q3 '21. Net loss was $10.7M, including an $11.8M non-cash impairment charge to the Zoosk trade name, compared to a net loss of $2.7M in Q3 '21. Zoosk initial subscriber registration grew 5.1% YOY. Zoosk's average paying subscribers grew 3.4% YOY. The app has deployed new pricing, leading to increased conversion rates and a higher average price for Zoosk subscriptions YOY.
The Rise of Blind Dating Apps
THE GUARDIAN – More and more online daters are choosing to start conversations without vetting each other's profile pictures. Blindlee is a blind dating app that hosts three-minute blurred video calls between users who match each other's criteria. In-app popups offer ice-breaker prompts and, as time goes on, the option to gradually unblur the video image. After three minutes, the app asks participants if they want to continue the conversation – if they both say yes, only then will it create a match and conversation can continue. The app launched in 2019 but experienced a boom during the pandemic. S'More is another relative newcomer to the online dating market, where users' photos are obscured until 15 messages have been sent back and forth. "70% of the conversations continue after photos have been revealed," says S'More's CEO, Adam Cohen-Aslatei. The app launched in June 2020 in the US, where it has 400K users and is the country's fastest growing dating product. A UK launch is imminent. Tinder also added a "Fast Chat: Blind Date" feature this year.
by Leah Harper
See full article at The Guardian
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A Dating App Subscription Isn’t a Bad Idea at a Time of High Inflation
by Ananya Bhattacharya
See full article at Quartz
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Is It Profitable for Dating Apps to Assign Women as Their Head?
Match Could Gain From Hinge’s Sustained Growth and Tinder Recovery
BENZINGA – Match Group said Q3 revenue increased 1% YOY to $810M, which beat average analyst estimates of $795M. Paying users increased 2% YOY to 16.5M. Match Group plans to focus on Tinder growth as it heads into 2023. Match Group expects Q4 revenue to be between $780M and $790M. Keybanc analyst Justin Patterson views Match as an improving execution story that should benefit from sustained growth at Hinge and a recovery in Tinder. He views 2023 guidance for 5-10% revenue growth and at least flat margins as reasonable.
by Anusuya Lahiri
See full article at Benzinga
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50.2% of U.S. Adults Are Single
NEWSBREAK – ~50.2% (124.6M) of American adults are single, according to The Bureau of Labor Statistics In 1950, this figure stood at 22%. Eric Klinenberg is a sociology professor at New York University. He is also the author of "Going Solo: The Extraordinary Rise and Surprising Appeal of Living Alone". Klinenberg explains the primary causes of the change. "People are looking for soulmates, and they're not going to compromise. Online dating sites have presented singles with more choices than ever, which also seems to be driving people away from tying the knot."
Q&A With Andrea Lo, Founder of Toronto Dating Hub
TORONTO GUARDIAN – Toronto Dating Hub offers monthly events for singles to meet, mingle and have fun. Some of their events include game nights, puppy yoga, a Singles Mixer and Canada's Wonderland and a Watersports singles event. Additionally, they also offer dating coaching, makeovers, photoshoots, mock dates and more. Andrea Lo started Toronto Dating Hub during the pandemic when she found herself alone. She started with virtual happy hour events. She incorporated activities like fitness, yoga, and dance classes into these virtual events to keep things interesting, all while supporting local businesses.
by Chiara di Lena
See full article at Toronto Guardian
Match Group Shuts Down Dating App Ship
OPW – "As of September 30, 2022, Ship is no longer available. For questions or concerns, please contact us", says a message on the getship.co website. It is unclear why Match Group quietly pulled the plug on Ship, a dating app that lets singles involve friends in the matchmaking process, but it seems the app did not get enough traction. In the latest earnings call, Bernard Kim, Match Group CEO, said: "We must focus our investment on brands that are growing and pull back in areas that are not driving growth." This is the strategy Match Group is taking in 2023.