VOX.COM – Hinge, dubbed the online dating industry's darling, is popular for its user-focused approach and integrity, particularly in large cities. Despite not being the biggest, its user base and revenue are rapidly growing. Launched in 2013, it underwent a significant redesign in 2016, moving away from swiping to encourage more thoughtful engagement with profiles. This redesign, aimed at fostering serious relationships, was termed "transformative" by dating coach Steve Dean. Mark Brooks, an industry consultant, praised Hinge for its genuine approach, stating, "because they have true integrity, and because their product actually works." This sentiment reflects Hinge's effort to distinguish itself in a crowded market by prioritizing quality matches and relationship-building. Match Group bought a 51% stake in Hinge in 2018, and acquired it in its entirety a year later, giving the up-and-comer access to the enormous resources of the dating behemoth. Match, in turn, got "the missing piece in the portfolio," according to Brooks: a dating app aimed squarely at users aged between Tinder and Match.com. Dean recommends the app to his clients because, he says, it does get people out on dates. Despite these efforts, users often express dissatisfaction with the app, critiquing the exhaustive process of maintaining appealing profiles and the randomness of matches. Emily Stykes, a business analyst at New Street Research, doesn't think any of the major apps, including Hinge, have solved the basic problem of relevant matches. But, she notes, they are aware of it. This is where AI could help. The aim is to have the best "personal matchmaker in the world" who knows "everyone out there." Brooks said that the value of a human matchmaker is "pre-date prep and postdate feedback" from both sides of the match. "That's also when dating apps should get to know their customers, based on the feedback," he said. "That's what would feed a truly informed AI." In some ways, we're already there. Apps are implementing AI to help users with the labor of impression management: Tinder, for instance, has been testing a feature that uses AI to identify your best photos.
by Hanna Kozlowska
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MATCH GROUP – Total revenue grew 10% YOY to $866M. Tinder revenue was up 11%, while collectively other brands' revenue was up 9% YOY. Hinge revenue was up 50% YOY. Payers declined 5% to 15.2M. Operating income was $260M, up 144% YOY. Full year 2023 revenue grew 6% YOY to $3.4B. Operating income increased 78% YOY to $917M. Tinder expects to further drive revenue in 2024 with the introduction of weekly subscription packages in markets that were not included in 2023's initial releases. Hinge's international expansion will continue to target Europe.
