Month: December 2023

State of Internet Scams 2023

Posted on December 14, 2023

State of Internet Scams 2023SOCIAL CATFISH – In 2022, Americans lost a record $10.3B to online scams, a 277% increase from five years ago, with the average loss per victim rising to $12,859. Social Catfish's "State of Internet Scams 2023" study, based on FBI and FTC data, reveals alarming trends:

  • 81% of romance scam victims didn't report their experiences, often due to shame.
  • Only 4.2% of stolen funds were recovered, mainly due to jurisdictional issues, as most scams originate outside the U.S.
  • Young people (under 20) showed a 2,500% increase in money lost over five years, though seniors remain the most victimized group.
  • Most online scams occur on social media platforms like Facebook, Google Hangouts, WhatsApp, Instagram, and Plenty of Fish.
  • The emergence of AI technologies like voice cloning and deepfake videos raises new challenges in online scams.
  • The United States leads in the number of online scam victims.

by Osaji Obi
See full article at Social Catfish

‘Dating’ in India – Interview With Snehil Khanor, Chief Matchmaker of Truly Madly

Posted on December 13, 2023

LTR – Snehil Khanor, Chief Matchmaker of Truly Madly, discusses the nuances of the Indian dating market, emphasizing the cultural diversity and regional distinctions that shape the landscape. Truly Madly, launched in 2014, aims to achieve $100M in total revenue by 2026 and sets itself apart from Tinder and Bumble by avoiding a kilometer radius filter, implementing stringent profile moderation, and incorporating compatibility algorithms tailored to Indian cultural nuances. Khanor introduces TM Cafe, a unique 90-second video speed dating feature, and highlights the shifting dynamics in Indian relationships, with arranged marriages diminishing and love marriages gaining traction. He predicts a 20-25% CAGR growth for the Indian dating industry and underscores Truly Madly's focus on tier two and tier three cities, which contribute over 45% of their revenue. The interview provides valuable insights into Truly Madly's strategic approach to meet the distinctive needs of the Indian market.

The November LTR was kindly sponsored by ParshipMeet Group, RealMe, along with Courtland Brooks and Matchmaker.com

Tinder Introduces New Dark Mode for Enhanced Nighttime User Experience

Posted on December 12, 2023

Tinder Dark ModePOCKET-LINT – Tinder's latest update introduces Dark Mode, making the app more comfortable for night-time use and reducing screen brightness. This feature, along with other enhancements like Profile Prompts, Profile Quiz, and an improved reporting system, enhances user experience. Dark Mode is rolling out to users in December 2023 and can be enabled in the app settings.

by Adrian Sobolewski-Kiwerski
See full article at Pocket-Lint

See the top news on Tinder

25% of Japanese Couples Marrying Quickly Met Through Dating Apps

Posted on December 12, 2023

Married Japanese coupleNIPPON – In a Japanese marriage survey by Meiji Yasuda Life Insurance, 31.2% of respondents met their spouses at work, 23.6% through friends, and 12.5% as former classmates. Notably, 25% of couples who married within a year of meeting used a dating app.

See full article at Nippon

Hello Group Reports Mixed Q3 Results Amid Economic Headwinds

Posted on December 11, 2023

Hello GroupPRESS RELEASE – Hello Group faced a 6% year-over-year decline in Q3 2023, with total group revenue falling to $424M. This was primarily due to economic headwinds and strategic product adjustments. Despite the revenue drop, the company's adjusted operating income rose by 30% to $95M. Tantan, their dating app, sustained profitability even with reduced revenue. The focus is now on stabilizing and growing the user base of the Momo app, adapting to the Asian dating market, and expanding new apps. The decrease in subscribers and paying users contributed to the revenue decline.

See full article at Investing.com

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Muzz’s Ad Campaign Amuses Internet in Pakistan

Posted on December 11, 2023

Muzz adMONEYCONTROL – Muzz, a UK-based dating app popular in Pakistan, has launched a campaign that humorously challenges traditional cousin marriages. The ad, with its bold message "Leave cousins, find someone else," has become a viral sensation in Pakistan, effectively resonating with local cultural norms and societal complexities. This approach showcases a successful example of localized marketing, addressing specific cultural practices in a region where the app is popular.

See full article at Money Control

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The Era of Free Dating Apps May Be Over

Posted on December 11, 2023

Hinge StandoutsCNBC – The trend of free dating apps is declining as companies like Bumble, The League, Hinge, Match, and Tinder aim to increase revenue, prompting users to opt for paid versions. A Pew Research Center report reveals 35% of American dating app users have paid for these services. The League's VIP membership costs $999 a week or $2,499 a month. In Sep, Tinder rolled out a $499 monthly subscription to some of its most active users, and Hinge recently introduced a $600-a-month membership. Coffee Meets Bagel says its paid users get 60% more dates than its nonsubscribers. Pew Research has found that people who met their partner on an app are more likely to have paid for the service.

by Annie Nova & Ana Teresa Solá
See full article at CNBC

5 Mobile App Predictions for 2024 by Data.ai

Posted on December 8, 2023

Dataai logoDATA.AI – Data.ai's 2024 Mobile App Predictions report highlights significant trends for the upcoming year in the mobile app industry. Key predictions include:

  • Generative AI will play a major role, with a 40% increase in downloads of AI-functional apps.
  • Microblogging apps, particularly Twitter, are expected to see a decline in daily active users.
  • TikTok is projected to become the highest-grossing app ever, surpassing $14.6B in App Store spend. Tinder will be #4 with ~$10B in App Store spend.
  • Consumer spend in mobile gaming is forecasted to rebound to $111.4B. Social media apps will focus on direct consumer revenue through in-app purchases, challenging traditional ad-based monetization models. The report emphasizes the growing importance of AI in mobile apps and the shifting landscape of social media and gaming consumer spending.

See full article at Data.ai

Vinylly, a Dating App Connecting Music Lovers, Launches in UK

Posted on December 7, 2023

Vinylly logoPRESS RELEASE – Vinylly, a dating app designed for music lovers, has launched in the UK Apple App Store. Originally gaining popularity in the US and Canada, Vinylly connects users based on shared musical tastes. An Android version is set to launch soon in the UK Google Play Store.

See full article at Vinylly website

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Tinder’s 2023 Year in Swipe Highlights Key Dating Trends

Posted on December 7, 2023

Tinder Year in Swipe 2023MASHABLE – Tinder's annual "Year in Swipe" report for 2023 highlighted key dating trends on the app. The most common interest listed globally on Tinder profiles was "horror movies," followed by "hip hop" and "tennis." The report emphasizes the importance of genuine interests in profiles, with Tinder annually analyzing user data to identify popular trends and preferences.

by Amanda Yeo
See full article at Mashable

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