MATCH GROUP – In the Q1, Match Group revenue grew 9% YOY to $860M. Tinder direct revenue increased 9% YOY to $481M. However Tinder payers declined 9% YOY to just under 10M, due to the continuing effects of last year's price optimizations and MAU declines. Tinder payers were down ~255K on a sequential basis. Subscription revenue grew 17% YOY while à la carte revenue, which comprises ~20% of Tinder's direct Revenue, fell 13% YOY primarily due to MAU declines and lower purchase volumes per user. Hinge direct revenue grew 50% YOY to $124M, driven by a 31% increase in payers to 1.4M. Hinge continued to resonate with users in English-speaking and Western European markets, with total downloads across all markets growing 20% YOY in Q1. Match Group Asia businesses' revenue declined 6% YOY to $71M. Direct revenue growth at Azar was more than offset by continued declines at Pairs and Hakuna. Q1 Operating Income was $185M, down 7% YOY.
Category: Hinge
Hinge Adds a Way to Mute Messages Containing Words Users Specify
TECH CRUNCH – Hinge is introducing a new "Hidden Words" feature that allows users to filter out likes with comments containing specified words, phrases, or emojis. This feature, similar to social media mute filters, helps users manage online harassment by redirecting likes with specified terms into a separate "Hidden Likes" section. Users can review or delete these comments at their discretion. Currently, Hinge permits adding up to 1K hidden words to a profile.
Hinge Founder Justin McLeod Discusses Shifting Focus From Metrics to Meaningful Connections at SXSW
Hinge Launches Phonebook to Encourage Offline Connections
LINKEDIN – In honor of the Global Day of Unplugging on Mar 1st, Hinge has launched an innovative initiative called the Hinge Phonebook. This phone-shaped book is filled with creative ideas to help users unplug and engage in real-life connections. Available for free at hinge.co/OneMoreHour, the Hinge Phonebook is a testament to the company's commitment to promoting IRL interactions. Additionally, Hinge is collaborating with the Global Day of Unplugging to provide microgrants for 100 unplugged experiences across the U.S.
CEO of Hinge Explains How to Get a Date on the App
A New Lawsuit Claims Match Group’s Apps Encourage Compulsive Use
REUTERS – Match Group was sued on Wednesday in a proposed class action claiming that its dating apps Tinder, Hinge and The League are designed to addict users, generating more profit for the company, rather than help them establish relationships. Match employs features "to gamify the platforms to transform users into gamblers locked in a search for psychological rewards that Match makes elusive on purpose," according to the complaint filed in federal court in San Francisco. The six plaintiffs – who live in California, Florida, Georgia and New York – called this inconsistent with Match's ad slogan that its apps are "designed to be deleted." Match rejected the plaintiffs' claims.
by Jonathan Stempel
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The Dating App Paradox
NPR – Over the past few years, dating app companies like The Match Group and Bumble have navigated the turbulent waters of the dating app market, with challenges including declining stock prices and difficulty attracting Gen Z users. Despite these hurdles and the "dating app paradox," where successful matches lead to losing users, these apps have played a significant role in helping people find love. Hinge's marketing as "the dating app designed to be deleted" underscores this paradox. The industry faces criticism for "enshittification," a term coined by Cory Doctorow to describe the decline in user experience as companies shift focus from user satisfaction to monetization. This decline is further exacerbated by The Match Group's strategy of acquiring competitors, which some argue reduces competition, although the company disputes this claim.
by Greg Rosalsky
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Match Group Tells Users to Verify Their Profiles in Order to Go on More Dates
PR NEWSWIRE – Match Group's platforms will send users coordinated reminders to Photo Verify their profiles utilizing Photo Verification with a selfie video or the platform's verification tools. Verified profiles often receive better engagement, according to Match Group. At Hinge, users with profiles that are Selfie Verified go on ~200% more dates globally than those with unverified profiles. On Tinder – in the 18-25 age group – being Photo Verified bumps up their chance to match by 10% as users feel more confident that their potential match is genuine and looks like their photos.
See full article at PR Newswire
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Hinge’s First Gen Z Report Reveals Top Dating Trends in 2024
Justin McLeod Turned Down Prestigious Job Offer to Start Hinge
CNBC – Justin McLeod, before founding Hinge, was on track for a consulting career, with a job offer from McKinsey and a business degree from Harvard. However, his entrepreneurial spirit led him to invest his $12K signing bonus from McKinsey into starting a dating website, Hinge. Despite initial skepticism from his parents and the eventual demand from McKinsey to return the bonus after delaying his start date multiple times, McLeod's venture into the dating app world proved successful. Hinge has grown to be a major player in the dating app market, generating $396M in direct revenue in 2023 under the Match Group portfolio.