FINANCIAL TIMES – Targeted dating apps are gaining traction as mainstream rivals like Tinder and Bumble face user declines. Apps like Grindr and Feeld attract specific communities, such as gay men and those interested in non-monogamy. Grindr's shares have doubled in 2023, contrasting with declining shares of Match Group and Bumble. Feeld has seen a 10% increase in users exploring open relationships and polyamory. These niche apps benefit from a deep understanding of their communities, leading to higher user loyalty and monetization opportunities. Match Group is shifting focus to niche products like Archer, for gay and bisexual men, and other demographically tailored apps to offset declines in mainstream platforms.
Category: Archer
Match Group CEO Bernard Kim Pushes for Innovation and Premium Experiences in Dating Apps
WALL STREET JURNAL – Match Group CEO Bernard Kim, known as "GamerBK" on social media, has a background in mobile gaming and is now leading Match Group. Kim aims to convince users that paying for premium experiences on dating apps is worthwhile. Despite a challenging environment with complaints about scams and user dissatisfaction, activist investors are pushing for change, including innovation at Tinder. Kim's creativity and gaming experience are seen as assets. He previously helped turn around Zynga and has introduced weekly subscriptions and a $500-a-month plan on Tinder. Under his leadership, Match Group launched the gay dating app Archer and aims to improve Tinder through product innovation and cost cuts. Kim defends the effectiveness of dating apps and is focused on growing Tinder and expanding Hinge.
by Sara Ashley O'Brien
See full article at Wall Street Journal
See the top news on Tinder See the top news on Hinge
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Dating App Archer’s New Ads Say (Some) D*ck Pics Are Welcome
Match-Owned Archer Hits Over Half a Million Installs
TECH CRUNCH – Despite a general slump in the dating app industry, Match Group's Archer app has achieved ~685K downloads since its launch last year. Aimed at gay, bi, and queer men, Archer offers a fresh take on the gay dating scene by incorporating safety features like AI-monitored chats and selfie verification to combat negative behaviors like body shaming and racism. The app distinguishes between casual and serious daters with different user interfaces. With 74% of its users looking for friendships, Archer is focusing on community-building features and plans to introduce a Stories feature and more AI integrations in the future. Match Group is investing significantly in AI, planning to spend $20-30M in 2024 and collaborating with OpenAI.
Dating Apps Have Hit a Wall. Can They Turn Things Around?
NEW YORK TIMES – Match Group and Bumble have seen a significant drop in market value since 2021, losing ~$40B. To address this, both companies have brought in new leaders aiming to innovate and attract more paying users. However, a key challenge remains: convincing young users to pay for dating app subscriptions. Bumble's CEO, Lidiane Jones, plans to revamp the app to appeal to younger users with more personalization and flexibility. Meanwhile, Match Group's CEO, Bernard Kim, is focusing on rapid experimentation and marketing to increase paying users. Match Group has also expanded its offerings with services like Archer for L.G.B.T.Q. dating and Chispa for Latinos, although revenue from these products was down in 2023.
Podcast: How Archer Is Building a Community for LGBTQ+ Men
ADWEEK – Archer is a social-first dating app for gay, bisexual and queer men. The app partnered with advocacy group GLAAD to ensure it reflects today's queer community, and worked with ~1,200 queer men through surveys, interviews and product testing. In this podcast, Michael Kaye, director of brand marketing and communications at Archer and OkCupid, sheds light on the unique features of Archer and how it stands apart from other dating apps.
Podcast With Michael Kaye, Director of Brand and Communications at Archer and OKCupid
Michael Kaye: AI, Storytelling, and Global Brand Challenges at OkCupid
RAGAN – Michael Kaye, the director of brand marketing and communications at ARCHER and OkCupid, has been honored as one of Ragan's 2023 Game Changers. He successfully expanded OkCupid's brand globally and managed communications across diverse markets. Kaye emphasizes the importance of understanding artificial intelligence and analyzing data for storytelling. He also highlights the need for understanding intersectionality due to the diversity of Gen Z. Despite appearing confident in public speaking roles, Kaye admits to dealing with social anxiety. He recalls a memorable experience when OkCupid's initiative was mentioned in a White House press briefing related to COVID-19 vaccination.
by Isis Simpson-Mersha
See full article at Ragan
Match to Post Q2 Earnings: What’s in Store?
YAHOO FINANCE – Match reports on Aug 1 and expects Q2 revenues of $805-$815 million. Zacks Consensus Estimate is $814m, indicating 2.4% growth year over year. Match Q2 performance is likely to have benefited from continued momentum at Tinder and solid performance of Hinge, Pairs and OkCupid.
- In the first quarter, the number of total payers increased 10% to 16.4 million from the prior-year quarter. Match Group is persistently investing for the improvement of machine learning tools that can efficiently and proactively identify, prevent and eliminate spam.
- The launch of Archer should boost users.
- In Q1, Match Group introduced a new feature called 72 hours which promotes more meaningful connections with a time-sensitive experience.
- The acquisitions video tech company, Hyperconnect and non-dating app Ablo might aid international revenue. Hyperconnect continues to build momentum.
- Hinge rolled out features which address questions around sexuality and features answers from leading LGBTQIA+ voices. This is likely to have attracted subscribers.
See full article at Yahoo Finance
Mark Brooks: I wonder how Match Groups' experiments with high-end value points, i.e. $500 a month, will play out? That move will certainly inspire and impact the industry. I believe we are leaving money (value) on the table. People want more. We need to find new ways to give it to them.
Match Group Has Many Growth Opportunities
GURU FOCUS – Match Group is well-positioned for growth in the online dating industry. The company recently launched a new dating app called Archer for gay, bisexual, and queer men. Financially, Match Group reported steady revenue and operating income for the Q1 of 2023, with strong performance from Tinder and Hinge. The company has a solid balance sheet, with cash and short-term investments of $578M and a long-term debt of $3.9B. Match Group plans to return at least half of its free cash flow to shareholders and has authorized a $1B share buyback program.