Month: November 2024

Match Group Q3 Financial Results

Posted on November 7, 2024

Match Group logo MATCH GROUP – In Q3 2024, Match Group's revenue grew by 2% YOY, reaching $895M. The period saw a 3% decline in total payers to 15.2M, while revenue per payer increased by 5% to $19.26. Operating income fell 14% to $211M due to impairment costs associated with phasing out certain live streaming services, although adjusted operating income rose 3% to $343M. Share repurchases continued, totaling $241M for the quarter.

Tinder's performance showed improvement, with a 4% decline in payers, less than Q2's 8% drop. Hinge achieved significant growth, with direct revenue up 36% YOY and reaching record downloads in the U.S. and Europe. Match Group Asia saw steady growth for Azar, especially in Europe, while Evergreen and Emerging brands continued expanding into specific demographic markets.

Match Group expects Q4 revenue between $865-$875M, with slight growth excluding revenue from discontinued services. An Investor Day scheduled for December 11, 2024, will outline further strategic insights.

See full article at Match Group website

See the top news on Tinder                See the top news on Match Group
See the top news on Azar                   See the top news on Hinge

Hinge’s CEO Tackles Dating App Frustrations

Posted on November 7, 2024

Hinge Justin McLeod 2024NPR – Hinge is experiencing revenue growth, up 36% from last year, as it addresses user frustrations common with dating apps. Hinge's CEO, Justin McLeod, aims to improve user engagement and prevent "dead-end" conversations by limiting new matches until users respond to existing ones, a feature that has increased match-to-date conversions by ~20%. Hinge also plans to implement guidance nudges to help users progress from chatting to in-person dates.

by Darian Woods & Wailin Wong
See full article at WVIK

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Bumble Q3 2024 Financial Results Summary

Posted on November 7, 2024

Bumble logoPRESS RELEASE – Revenue: Total revenue declined slightly by 1% to $274M, with Bumble App revenue down 1% to $220 million. Paying users for the Bumble App increased by 10% to 2.9M, up by 52K from the previous quarter. Losses: Bumble reported a net loss of $849.3M, primarily due to a non-cash impairment charge of $892.2M. This charge reflects a lowered valuation of company assets, largely due to a drop in Bumble's stock price and market value. User and Revenue Metrics: Overall, paying users grew from 3.8M to 4.3M, but the average revenue per paying user decreased from $23.42 to $21.17. Profitability: Adjusted EBITDA rose to $82.6M (30.2% of revenue), up from $75.3M (27.3%). Share Buybacks: The company repurchased $89.7M in shares in Q3 and an additional $30M in October, with $89M still available for repurchases. Outlook: For Q4 2024, Bumble anticipates revenue between $256 and $262M, with projected full-year revenue between $1.066 and $1.072B.

See full article at Bumble website

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Date Right Celebrates Rebrand and Android Launch With Election Night Party in New York City

Posted on November 6, 2024

Date Right iconBUSINESSWIRE – Formerly called The Right Stuff, the dating app for conservatives is now available on the Google Play Store. Date Right will host an exclusive Election Night Party tonight in NYC, kicking off its "Make America Hot Again" party series. The app was launched in 2022 by John McEntee, Dan Huff, and Isaac Stalzer. With 3.4M followers on its @daterightstuff TikTok account and 1.8M Instagram followers, the app's influence among young conservatives continues to grow.

See full article at Businesswire

See the top news on Date Right (formerly The Right Stuff)

First Round’s On Me Unveils New Ad Emphasizing Real-Life Connections

Posted on November 6, 2024

FROM adLITTLE BLACK BOOK – NM Talent Director Harry Guest has unveiled a campaign for the dating app First Round's On Me, promoting face-to-face meetings over online chats. The ad, directed by Guest, draws inspiration from classic movie romance scenes to highlight the app's focus on real-life connections, bypassing the "swipe culture" of modern dating apps.

See full article at Little Black Book

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PUMA India Partners With Bumble for Singles-only Running Event

Posted on November 6, 2024

Bumble Puma
MEDIABRIEF – PUMA India has partnered with Bumble to launch a singles-only running event on November 10 in Bengaluru, aimed at young adults (21–35) to connect through sport. The 3km run will start at Nexus Koramangala Mall, followed by a social mixer. The collaboration leverages the popularity of sports as a shared interest among Indian singles, with Bumble research showing 72% of Indians open to a sports-themed date.

See full article at MediaBrief

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Grindr Implemented Return-to-Office Policy to Retaliate Against Workers for Unionizing, NLRB Says

Posted on November 5, 2024

Grindr logo GIZMODO – The National Labor Relations Board (NLRB) filed a complaint against Grindr, claiming it imposed a return-to-office policy to retaliate against employees for unionizing, leading to around half of Grindr's staff leaving. Grindr allegedly refused to negotiate with the union and offered unlawful severance agreements. The remaining staff voted to unionize in December 2023, but Grindr is disputing the election because some votes were cast by ex-employees affected by the policy. If no settlement is reached, a hearing is set for March.

by Todd Feathers
See full article at Gizmondo

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Bumble Earnings: What to Look for From BMBL

Posted on November 5, 2024

Bumble incSTOCKSTORY – Bumble will be reporting results tomorrow after market hours. Bumble missed analysts' revenue expectations by 1.6% last quarter, reporting revenues of $268.6M, up 3.4% YOY. This quarter, analysts expect Bumble's revenue to decline 1.4%YOY to $271.7M, a reversal from the 18.4% increase recorded in the same quarter last year.

by Jabin Bastian
See full article at Yahoo Finance

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Match Group Q3 Earnings Report Preview: What to Look for

Posted on November 5, 2024

Match Group logo largeINVESTING – Match will report earnings tomorrow after market hours. Match Group met analysts' revenue expectations last quarter, reporting revenues of $864.1M, up 4.2% YOY. However, it was a slower quarter for the company, with a decline in users. It reported 14.84M users, down 5%YOY. This quarter, analysts expect Match Group's revenue to grow 2.2% YOY to $900.9M, slowing from the 8.9% increase recorded in the same quarter last year.

See full article at Investing.com

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How Men Are Using ChatGPT to Get Dates

Posted on November 5, 2024

How Men Are Using ChatGPT to Get DatesWE GOT THIS COVERED – Men are increasingly using AI, like ChatGPT, to craft dating app messages and profiles, with some reporting more confidence and success in getting responses. A study by Attractiontruth found that 20% of men aged 25-35 use AI tools for dating, and dedicated services like YourMove.AI have gained traction with users who feel shy or need assistance in online dating. Experts caution that while AI helps with first impressions, it risks creating inauthentic connections.

by Melissa Brown
See full article at We Got This Covered